In Which of the Following Situations Would There Be an Enforceable

question 119

Multiple Choice

In which of the following situations would there be an enforceable contract despite the lack of a written contract?

• A) Jack agrees to build a garage for Sam after he finished the remainder of his 2-year army hitch (he has 14 months left).
• B) Jack leases a storage facility for duration of his 2-year army hitch.
• C) Contractor Joe agreed to build a $250,000 home for Sam on Sam's land, to be completed no later than 9 months from the date of agreement.
• D) Sam agreed to trade his vacation cottage with Joe in exchange for Joe's yacht.
• E) Sam agreed to guarantee a loan for his friend Joe.

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Definitions:

Investment Opportunity

A potential venture or asset that presents the possibility for financial growth or returns.

ROI

Return on Investment, a financial ratio indicating the profitability of an investment relative to its cost.

Combined ROI

A metric that calculates the total return on investment from multiple investments or business units combined.

Residual Income

The amount of income that an individual or company has after all personal debts and expenses have been paid.