Statement I

question 72

Multiple Choice

Statement I.The typical corporation is a very small firm.
Statement II.Nearly all large companies are corporations.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Statute of Frauds

a legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged, for the purpose of preventing fraud.

Interests in Land

Legal rights or claims to the use, ownership, or possession of real estate or property.

Statute of Frauds

A legal doctrine requiring certain contracts to be in writing and signed by the party to be charged, to prevent fraud and perjuries.

Written Contract

is a legally binding agreement that has been expressed in textual form, detailing the terms and conditions between parties.