Which of the Following Requires Certain Types of Contracts to Be

question 35

Multiple Choice

Which of the following requires certain types of contracts to be in writing in order to be enforceable, such as contracts that take more than a year to complete or that involve the sale of goods worth $500 or more?

• A) statute of frauds
• B) statute of limitations
• C) parole evidence rule
• D) statute of authenticity

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Definitions:

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding direct labor and materials.

Future Taxpayers

Individuals or entities that will be responsible for contributing to government revenues through taxes in the future.

Promised Benefits

The guaranteed or expected advantages or returns, often from investments, insurance policies, or employment contracts.

Real Rate

refers to the interest rate adjusted for inflation, providing a more accurate measure of the true cost of borrowing or the real yield on an investment.