Which of the Following Is True Regarding Noncompliance with the Statute

question 66

Multiple Choice

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

• A) The basic legal effect under the statute of frauds and the UCC differs.
• B) The statute of frauds applies to executed and executory contracts.
• C) 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.
• D) The doctrine of promissory estoppel cannot displace the requirement of a writing under a statute of frauds.

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Definitions:

Profit Center

A business unit or department within an organization that is responsible for generating its own revenue and profit.

Direct Expenses

Costs that can be directly traced to a product, service, or activity without any need for allocation.

Profit Center

A profit center is a division or branch within a company that is responsible for generating its own revenue and profit, allowing for performance measurement independently.

Uncontrollable Costs

Uncontrollable costs are expenses that cannot be directly managed or influenced by actions of the business or its managers, often due to external factors.