A Contract That Does Not Satisfy the Writing Requirement of the Article

question 24

Multiple Choice

A contract that does not satisfy the writing requirement of the Article 2 statute of frauds, but which is otherwise valid, is enforceable in which of the following situations?

• A) Where the goods have been delivered and accepted.
• B) Where payment has been accepted.
• C) Where the goods have been specially manufactured and are not suitable for resale in the ordinary course of business.
• D) All of these are situations where the contract would be enforceable.

---

Definitions:

Bond Redemption

The process by which a bond issuer legally repays the principal amount of the bond to the bondholders at or before the bond's maturity date.

Market Prices

The immediate cost at which one can buy or sell an asset or service within the market environment.

Par Value

The nominal or face value of a stock or bond as stated by the issuer, which may differ from its market value.

Coupon Rate

The yearly interest rate provided by a bond, shown as a percentage of the bond's nominal value.