Which of the Following Is True Regarding Wilma's Statement to the Judge

question 30

Multiple Choice

Which of the following is true regarding Wilma's statement to the judge under oath that she orally agreed to sell the house?

• A) The statement has no effect because of the statute of frauds.
• B) The statement would be excluded from consideration as parol evidence but only because it involved an amount in excess of $5,000.
• C) The judge would be estopped from considering the evidence.
• D) The statement would be classified as an admission and would establish an exception to the statute of frauds involving the agreement on the house.
• E) The statement would be excluded from consideration because of the collateral interest rule.

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied.

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded.

Price Ceiling

A legal maximum price that can be charged for a good or service, beyond which it cannot be sold.

Price Ceiling

A legal maximum price that can be charged for a good or service, determined by a government.