Which of the Following Oral Contracts May Be Enforceable

question 10

Multiple Choice

Which of the following oral contracts may be enforceable?

• A)Nathan owes $1,000 in back rent to his landlord.Miranda tells Nathan not to worry about it,she'll pay his debt for him.
• B)Kenny orally agrees to purchase 5,000 pencils that the ABC Pencil Company stamps with the words "Kenny is the Greatest!"
• C)Mrs.Washington calls the corner grocery and places an order for a loaf of bread,a gallon of milk,and a pound of hamburger to be delivered to her.Ten minutes later,before the store has a chance to put together her items,she calls to cancel the order.
• D)All of these are correct.

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Definitions:

Idle Funds

Money that is not currently invested or used in transactions, potentially earning no interest or profit.

Semiannually

Occurring or calculated twice a year.

Stock Dividend

A stock dividend is a dividend payment made to shareholders in the form of additional shares rather than a cash payout, affecting the company's share price and equity structure.

Journal Entry

A journal entry is a recording of a financial transaction in the accounting records of a business, indicating debts and credits to various accounts.