Which of the Following Is True of the Statute of Frauds

question 25

Multiple Choice

Which of the following is true of the statute of frauds?

• A) It prevents the use of oral evidence to contradict the terms of a written contract.
• B) It applies to all contracts having consideration valued at $500 or more.
• C) It requires the independent promise to pay the debt of another to be in writing.
• D) It applies to all real estate leases.

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Definitions:

Financial Transaction

An agreement or exchange between two parties involving the transfer of money, goods, services, or property.

Alternative Evaluation

The process in which consumers assess various products, brands, or services to make an informed decision before making a purchase.

Consumer Purchase Decision

The process through which a consumer goes to select, purchase, use, and dispose of goods or services.

Financial Consideration

Factors relating to the financial aspects of a decision, including costs, revenues, profitability, and investment requirements.