Which of the Following Would NOT Require a Writing Under

question 9

Multiple Choice

Which of the following would NOT require a writing under the statute of frauds?

• A)Where the buyer of a five-acre lot pays the $40,000 purchase price, thus fully performing his obligation
• B)Where a renter agrees to rent a building for a 5-year period
• C)Where a contractor enters into an agreement for an easement across adjoining land to run cables
• D)Where a landscaper agrees to landscape the lot surrounding an office building

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Definitions:

Price

The cost in financial terms anticipated, necessitated, or disbursed for something.

Monopoly

A market structure characterized by a single seller, selling a unique product in the market with no close substitutes.

Purely Competitive Industry

An industry characterized by many buyers and sellers, free entry and exit, and a standardized product, leading to firms being price takers.

Monopolist

A market participant that is the sole provider of a good or service, thus controlling the entire market and having the ability to set prices unilaterally.