Abel Enters into an Oral Contract to Work for Carr

question 36

Multiple Choice

Abel enters into an oral contract to work for Carr for an indefinite period of time at a rate of $50,000 per year.Is this agreement exempt from the statute of frauds?

• A)No,because the agreement covers services with a value in excess of $500.
• B)No,because the agreement covers a time period in excess of one year.
• C)Yes,because the agreement is for an indefinite period of time.
• D)Yes,because the work can be completed within one year.

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Definitions:

Productive

Being productive describes a scenario where outputs are maximized from a given set of inputs, indicating efficiency in the use of resources.

Productivity of Computer Programmers

A measure of the output (typically software or code) produced by programmers within a certain period of time, often assessed in terms of quality and efficiency.

Competitive Forces

External factors that influence the competitive position of a firm in an industry, including competition, customers, new entrants, substitutes, and suppliers.

Employment Discrimination

Unfair or unequal treatment of employees or job applicants based on characteristics like race, gender, age, or disability.