With Regard to the Statute of Frauds and Contracts Whose

question 98

Multiple Choice

With regard to the statute of frauds and contracts whose terms prevent possible performance within one year,which of the following is an incorrect statement?

• A)The one-year period begins to run the day after the contract is created.
• B)A contract does not come within the statute of frauds if it could be completed within one year,even if it is highly unlikely that a contract will be completed within one year.
• C)A contract for lifetime employment does not have to be in writing in order to be enforceable.
• D)Contracts whose performance,based on the terms of the contract,could not possibly occur within one year fall within the statute of frauds.
• E)The one-year period begins to run the day the contract is scheduled to begin.

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Definitions:

Desired Targets

Specific goals or outcomes that an individual or organization aims to achieve.

Predetermined Limits

Constraints or boundaries that are set in advance, defining the permissible scope of actions or the extent of an activity or process.

Unity of Command

A principle in management and organization theory stating that each employee should receive orders from and be accountable to only one supervisor.

Boundary-spanning

Involves activities or roles that connect an organization with its external environment, facilitating information flow and coordination between internal and external stakeholders.