If a Contract Is Not Evidenced in Writing (But Is

question 152

True/False

If a contract is not evidenced in writing (but is required by law to be in writing),this does not make it void,only unenforceable.

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Definitions:

Limited Partners

Individuals in a partnership who invest money but are not involved in day-to-day management, and whose liability is limited to the amount of their investment.

General Partnership

A business structure where two or more individuals agree to share in all assets, profits, and financial and legal liabilities of a venture.

Participating Investors

Individuals or entities that engage in funding ventures with the expectation of earning a return on their investment.

Liability

The state of being responsible for something, especially by law.