Martin,Human Resources Director for Spring Co

question 6

Multiple Choice

Martin,Human Resources Director for Spring Co.,sent Lynn the following signed letter: "This letter confirms our offer to you.We will pay for your moving expenses,up to $1,500.Your starting date will be February 1,and you will become eligible for health care benefits as of May 1.You will receive a starting salary of $36,500 annually,with reviews and eligibility for increases at six months,12 months,and annually thereafter.Vacation will be for two weeks a year after one year." Spring fired Lynn eight months after she started to work,and Lynn sued arguing the letter constituted a memorandum of an oral contract for employment for five years.Is the letter sufficient to satisfy the statute of frauds?

• A) Yes, to satisfy the statute of frauds, a memorandum is sufficient if it evidences an oral contract between the parties and is signed by the defendant.
• B) Yes, the memorandum is signed by the defendant and states with reasonable certainty the subject matter and essential terms of the agreement.
• C) No, to satisfy the statute of frauds, the memorandum must contain all essential terms of the contract.
• D) No, the letter was not formal enough to satisfy the statute of frauds.

---

Definitions:

Regression Line

A line of best fit through a set of data points in statistical modeling, showing the relationship between the independent and dependent variables.

Dependent Variable

The variable in an experiment or study that is expected to change in response to changes in the independent variable.

Regression Model

A statistical technique used to predict the value of a dependent variable based on one or more independent variables.

Intercept Term

A constant in a regression model that represents the value of the dependent variable when all independent variables are zero.