What Is Required to Meet the Writing Requirement of the Statute

question 24

Multiple Choice

What is required to meet the writing requirement of the Statute of Frauds under the UCC?

• A) In all cases,a writing signed by all parties to the contract.
• B) In all cases,a writing signed by the party to be charged.
• C) In cases where at least one party is a merchant,either a writing signed by the party to be charged or a written confirmation of an oral agreement that is sent to the merchant and not objected to by the merchant. In transactions not involving a merchant,a writing signed by the person to be charged.
• D) In cases where both parties are merchants,a writing signed by the party to be charged or a written confirmation of an oral agreement that is sent by one party to the other and not objected to by the other party. In all other transactions,a writing signed by the party to be charged.

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Definitions:

Formalized Rules

Established regulations and procedures designed to guide behavior and operations within an organization or institution.

Division Of Labor

A system in which different individuals or groups are responsible for different tasks or aspects of production, promoting efficiency and expertise.

Management Change

The process, tools, and techniques to manage the people side of change to achieve a required business outcome.

Intrapreneurship

The act of behaving like an entrepreneur within a larger organization, including taking initiative and promoting innovative projects.