Which of the Following Is Sufficient Written Evidence to Satisfy

question 53

Multiple Choice

Which of the following is sufficient written evidence to satisfy the Statute of Frauds in most Canadian jurisdictions?

• A)a signed IOU written on a napkin
• B)an unsigned letter confirming a severance arrangement
• C)a notation on a cheque indicating what was purchased without any signatures
• D)an unsigned standard form agreement
• E)a document written in a person's handwriting making a promise but not signed by that person

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Definitions:

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, giving each some degree of market power while still allowing for free entry and exit in the market.

Fixed Costs

Expenses that remain constant regardless of business activity levels, including lease payments and insurance premiums.

Short Run

A period in which at least one factor of production is fixed and cannot be changed, limiting the firm's ability to adjust fully to market changes.

Monopolistically Competitive

A market structure characterized by many sellers offering differentiated products, allowing for some degree of market power.