Oral Contracts Are

question 11

Multiple Choice

Oral contracts are

• A) unenforceable in court.
• B) easier to prove than written contracts.
• C) harder to prove than written contracts.
• D) illegal in some states.

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Definitions:

Unperfected

A legal term describing a security interest or lien that has not been properly filed or recorded, and therefore does not have priority over claims made by other creditors.

Financing Statement

A document filed to give public notice of a security interest in personal property, thereby protecting the interests of secured creditors.

Consumer Goods

Products that are purchased for consumption by the average consumer, including items such as food, clothing, and household products.

Buyer in the Ordinary Course of Business

A legal term describing a person who purchases goods in good faith within the usual and customary practices of a particular trade or business.