Under the Majority View, a Contract That Does Not Satisfy

question 55

True/False

Under the majority view, a contract that does not satisfy the statute of frauds is not enforceable.

---

Definitions:

Lease Contract

A legal agreement in which one party grants another party the right to use a property or equipment for a specified period in exchange for payment.

Merchant

A person or corporation involved in the trade of offering products or services for sale.

UCC

The Uniform Commercial Code comprises a complete framework of rules that dictate the conduct of all commercial transactions within the United States.

Rescission

The termination of a contract.