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.

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Definitions:

Accrued Interest

Interest that has been incurred but not yet paid.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money that they borrow from a lender.

Sale Received

Sale Received refers to the total amount of money obtained from the sale of goods or services before any deductions or returns.

Purchase Cost

The total amount expended to acquire a good or service, including the item's price and additional charges related to procurement.