The Key to Determining Whether a Contract Is Enforceable Under

question 28

Multiple Choice

The key to determining whether a contract is enforceable under the one-year rule of the statute of frauds is the answer to which of the following questions?

• A) Is it possible to carry out the terms of the contract within one year of the date of the agreement?
• B) Is it likely that the parties will carry out the terms of the contract within one year of the date of the agreement?
• C) Is it reasonable to expect that the parties will carry out the terms of the contract within one year of the date of the agreement?
• D) Do the parties wish to carry out the terms of the contract within one year from the date that the contract will actually begin?

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Definitions:

Academic Fraternity

A student organization within higher education institutions, often focused on academic achievement and professional development, sometimes specific to particular fields of study.

Statistically

Pertaining to the use of or relating to statistics, which involves the collection, analysis, interpretation, and presentation of numerical data.

Separated

Describes a state where two or more entities are physically or symbolically disjoined or kept apart.

Formal Operational

The stage in Piaget's theory of cognitive development where individuals gain the ability to think abstractly, logically, and systematically.