Which of the Following Is True Regarding Noncompliance with the Statute

question 80

Multiple Choice

Which of the following is true regarding noncompliance with the statute of frauds?

• A) The doctrine of promissory estoppel cannot displace the requirement of a writing under a statute of frauds.
• B) The statute of frauds applies to executed and executory contracts.
• C) The basic legal effect under the statute of frauds and the UCC differs.
• D) A party to a contract which was unenforceable because of the statute of frauds but who relied upon the contract may recover in restitution the benefits he conferred on the other party.

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Definitions:

Patriot Act

Legislation passed in the United States following the September 11 attacks, aimed at strengthening national security by expanding the powers of law enforcement agencies to surveil and detain suspected terrorists.

Dual Federalism

A political arrangement in which state and federal governments are seen as co-equal sovereigns with separate and distinct areas of jurisdiction, often referred to as "layer-cake" federalism.

Maturity Risk

is the risk associated with the time until a financial instrument reaches its maturity, affecting interest rate exposure and investment valuation.