In Which of the Following Cases Will an Oral Contract

question 18

Multiple Choice

In which of the following cases will an oral contract for the sale of goods of $750 be enforceable without a writing?

• A) The goods are to be specially manufactured for the buyer and the seller has made a substantial beginning of their manufacture.
• B) A party admits in an answer to a complaint in a lawsuit that the contract was made.
• C) Delivery and acceptance of the goods has been made.
• D) All of the above.

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Definitions:

Profit Maximizing

A strategy or point at which a firm decides the price and output level that leads to the maximum profit.

MSB Curve

The Marginal Social Benefit curve, showing the extra benefit to society of producing one more unit of a good.

MCA Curve

A graphical representation showing the relationship between the amount of pollution abated and the marginal cost of abatement.

Emissions Standard

Regulations setting limits on the amount of pollutants that can be released into the environment by vehicles and other sources.