The Standard Statute of Frauds

question 59

Multiple Choice

The standard statute of frauds:

• A) requires full disclosure in the case of consumer sales on credit.
• B) requires a seller of real estate to obtain a broker's license.
• C) specifies the punishment of perjury.
• D) requires that a contract for the sale of land be evidenced by a writing.

---

Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision or choosing to do one thing over another.

Coconuts

Tropical fruits with a hard shell, edible flesh, and water inside, often used as food or in beverages.

Fish

Aquatic animals that are caught or farmed for human consumption, as well as for recreational fishing, aquarium keeping, and other uses.

Inefficient Combination

A situation where resources are not being used to their fullest potential, resulting in wasted capacity or unmet demand.