Under the UCC, to Satisfy the Statute of Frauds, a Writing

question 6

Multiple Choice

Under the UCC, to satisfy the Statute of Frauds, a writing must meet several requirements. Which of the following is NOT one of the requirements?

• A) The writing evidences a contract for the sale of goods.
• B) The writing must state the price of the goods purchased.
• C) The writing is signed by the party against whom enforcement is sought.
• D) The writing must state the quantity of goods purchased.
• E) All of these are requirements of the UCC Statute of Frauds.

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Definitions:

Public Corporations

are companies whose shares are traded publicly on stock exchanges, allowing them to raise capital from public investors.

Earnings

The amount of profit that a company produces during a specific period, typically reported as net income.

Capital Gain Yield

The aspect of the total gains from an investment that derives solely from its rise in price, without accounting for dividends or interest received.

Required Rate

The minimum return an investor expects to achieve on an investment.