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Jin Yang wants to start a small business. But he has not yet uncovered an opportunity that would offer him security and the possibility of high profits. Jin Yang will likely find that one must risk more in order to attain high profits.
Statute of Frauds
A legal concept that requires certain types of contracts to be in writing and signed by all parties involved to be enforceable.
Written Contract
An agreement between two or more parties that is expressed in written form and is intended to be enforceable by law.
Statute of Frauds
The Statute of Frauds is a legal principle requiring certain types of contracts to be in writing and signed to be enforceable.
Partial-Performance Exception
A legal doctrine allowing enforcement of an oral contract, contrary to the Statute of Frauds, based on partial completion of agreed terms.
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