A Contract Involving Interests in Property of Any Kind Must

question 14

True/False

A contract involving interests in property of any kind must be in writing to be enforceable.​

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Definitions:

Negotiable Document

A legal document guaranteeing payment or delivery of assets that can be transferred from one party to another, often used in trade and finance.

Common Trade Practices

Established methods or patterns of behavior routinely observed and accepted in a particular industry or trade.

Exclusive Provider

A sole supplier of a particular product or service within a specific market or arrangement.

Unconscionable

Refers to actions or terms in a contract that are so unjust or overwhelmingly one-sided in favor of the party with more power that they are contrary to good conscience.