Ramona,age 42,orally Agreed to Work for Brahma,Inc

question 22

True/False

Ramona,age 42,orally agreed to work for Brahma,Inc.for the rest of her life for $50,000 per year.This agreement would not be enforceable since it violates the one-year rule of the statute of frauds.

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Definitions:

Concurrent Conditions

Circumstances where two or more conditions must occur at the same time for a contract or agreement to be fully enforceable.

Conditions Precedent

Requirements that must be met before a contract becomes effective or before certain actions can be taken.

Conditions Subsequent

Conditions that must be met after a contract has been executed in order for the contract to remain effective.

Condition Precedent

A specific event or action that must occur before a contract becomes binding or a party is required to perform their contractual obligations.