Derek and Abyan Were Discussing Business Over Lunch When They

question 35

Multiple Choice

Derek and Abyan were discussing business over lunch when they agreed on the sale of a five-acre parcel of land.Since neither of them had any paper with them,Derek wrote the following on a napkin: "Abyan agrees to purchase from Derek a 5-acre parcel located at the local address of 123 Forrest Street,St.Joseph,Minnesota,U.S.A.for the price of $3500 per acre.Transfer of title,payment,and possession to take place on May 1,2010." Abyan signed the napkin.On May 1,2010,Derek was ready to close the deal and transfer title but Abyan refused to pay the purchase price.If Derek sues Abyan for the price of the land,the most likely result will be:

• A) Abyan will win because the writing is not sufficient under the statute of frauds.
• B) Derek will win because the writing is sufficient under the statute of frauds.
• C) Abyan will win because Derek did not sign the writing.
• D) Derek will win because the statute of frauds does not apply to this situation.

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Definitions:

Correspondent Inference

A theory suggesting that people infer a correspondent disposition or personality trait from an observed behavior that is freely chosen and leads to distinctive results.

Entity Mind-Set

An outlook where abilities are viewed as fixed and unchangeable traits, influencing motivation and approach to challenges.

Incremental Mind-Set

A belief that abilities can be developed through dedication and hard work, which fosters a love of learning and resilience.

Fixed Mind-Sets

Fixed mind-sets refer to the belief that one's abilities, intelligence, and talents are static traits that cannot significantly change.