Because the Statute of Frauds Does Not Apply Expressly to a Contract

question 56

True/False

Because the statute of frauds does not apply expressly to a contract for the formation of a partnership,usually no writing is required to create the relationship.

---

Definitions:

Permanent Assets

Also known as fixed assets; these are long-term resources owned by a business, like property, plant, and equipment, expected to provide value for several years.

Machinery

Machines collectively, especially those used in production or some form of labor.

Acquisitions

The act of obtaining control of another company or its assets through purchase, which can facilitate growth and expand market share.

Mergers

The process by which two or more companies combine into one entity, typically to achieve strategic objectives, gain market share, or improve efficiency.