Contracts That Are Traditionally Required to Be in Writing by the Statute

question 28

Multiple Choice

Contracts that are traditionally required to be in writing by the statute of frauds are:

• A) bilateral contracts that are capable of being performed within a year of their formation.
• B) contracts for the transfer of an interest in land.
• C) bilateral contracts that have been fully performed by both parties.
• D) contracts for the sale of goods costing less than $500.

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Definitions:

Tolerance

The capacity to accept or endure differences, variations, or opposing viewpoints.

Aversive

Something unpleasant that is avoided; often used in psychology to refer to stimuli that individuals seek to avoid.

Perfectionist

An individual who refuses to accept any standard short of perfection, often leading to meticulousness and a stringent adherence to standards.

Implicitly

In a way that is not directly expressed but is understood or implied.