Examlex
The "Four Modernizations" included all except which of the following?
Suretyship
A contractual arrangement where one party (the surety) guarantees the performance of a second party (the principal) to a third party (the obligee).
Statute of Frauds
is a legal principle that requires certain types of contracts to be written and signed in order to be enforceable.
Executory Contracts
Contracts under which both parties to the agreement have duties remaining to be performed. If a contract's major obligations are unfulfilled by both parties, it is seen as executory.
One-Year Provision
The one-year provision is a legal clause, often found in statutes of frauds, which requires certain contracts to be in writing and signed if they cannot be performed within one year.
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