Which of the Following Is True Regarding the Statute of Frauds

question 75

Multiple Choice

Which of the following is true regarding the statute of frauds' writing requirement?

• A)The writing must be contained in one document.
• B)The writing must be signed by both parties.
• C)The writing must be signed by the buyer.
• D)The writing must indicate the parties' identities.

---

Definitions:

Consumer's Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.

Used Cars

Pre-owned vehicles that have had one or more retail owners, sold through various outlets, including franchise and independent car dealers.

First-Degree Price Discrimination

A pricing strategy where a seller charges the maximum price that each individual consumer is willing to pay, leading to maximum possible profit for the seller.

Inverse Demand Function

A mathematical representation that describes the price of a good or service as a function of the quantity demanded, highlighting how prices can adjust based on consumer demand.