Which Statement About the Statute of Frauds Is True

question 20

Multiple Choice

Which statement about the statute of frauds is true?

• A)All contracts must be in writing in order to be enforced.
• B)Contracts for the sale of goods for $500 or more must be in writing in order to be enforced.
• C)Contracts for the sale of land for $500 or more must be in writing in order to be enforced.
• D)All employment contracts must be in writing in order to be enforced.

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Definitions:

Demand Curve

A graph showing the quantity of a good that consumers are willing and able to purchase at various prices.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers, typically downward sloping.

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a specific price level.