The Effect of the Statute of Frauds (Or Any Other

question 48

Multiple Choice

The effect of the Statute of Frauds (or any other statutory provision in provinces that have repealed it) is that none of the following may be brought in a court of law unless they are in writing and signed by the party to be charged:

• A) a contract concerning an interest in land;
• B) a promise by an executor or administrator to settle a claim out of his or her own personal estate;
• C) a guarantee agreement;
• D) a contract concerning an interest in land and a guarantee agreement;
• E) All of the responses are correct.

---

Definitions:

Bank's Responsibility

Obligations that banks have to ensure the security and confidentiality of their customers' personal and financial information, compliance with financial laws and regulations, and the prudent management of financial risks.

Fraudulent Use

The illegal or deceitful use of something, often for personal gain, that results in harm or loss to another party.

Bank's Responsibility

The obligations of a bank to its customers, including safeguarding deposits, processing transactions accurately, and maintaining confidentiality of client information.

Demand

An economic principle referring to a consumer's desire and willingness to pay a price for a specific good or service.