Requirements for a Memorandum That Satisfies the Statute of Frauds

question 14

Multiple Choice

Requirements for a memorandum that satisfies the statute of frauds include that the writing:

• A) must be a single document.
• B) must exist at the time of the litigation.
• C) needs to be notarized.
• D) None of these.

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Definitions:

Marginal-Utility-To-Price Ratio

The comparison of the additional satisfaction obtained from consuming one more unit of a good to its cost.

Marginal Utility

The incremental pleasure or value received from consuming one more unit of a good or service.

Marginal Utility Schedules

Tables or graphs that show the relationship between the quantity of a good consumed and the utility (satisfaction) that is gained from each additional unit.

Total Utility

The complete satisfaction or advantage gained from consuming a specified overall amount of a product or service.