Contracts That Cannot by Their Terms Be Performed Within One

question 118

Multiple Choice

Contracts that cannot by their terms be performed within one year from the day after the date of formation are normally required to be in writing under which of the following?

• A) The Statute of Frauds
• B) The undue influence rule
• C) The duress rule
• D) The unconscionability rule

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Definitions:

Representative Power

The formal right conferred by the firm to speak for and to a potentially important group.

Personal Power

Describes an individual's ability to influence or control the circumstances of their own or others' lives.

Formal Hierarchy

A formal hierarchy is an organizational structure where individuals and groups are ranked according to levels of authority, responsibility, and status within the organization.

Zone Of Indifference

A range within which attempts to influence a person will be perceived as legitimate and accepted without critical thought.