Contracts That Are Required to Be in Writing by the Statute

question 8

Multiple Choice

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

• A)all promises for the international sale of goods.
• B)contracts transferring an interest in land.
• C)contracts predicated on a condition precedent.
• D)contracts for the sale of goods costing less than $500.

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Definitions:

Contractual Capacity

The legal ability of a party to enter into a binding contract, often related to age and mental competency.

Situations

Various sets of circumstances or conditions in which individuals, groups, or organizations find themselves.

Court

a legal institution where disputes are resolved and justice is administered by judges and/or a jury.

Intellectual Production

The creation of intangible assets through intellectual effort, such as inventions, literary works, and designs.