Fact Pattern 14-1 (Questions 26-27 Apply)

question 7

Multiple Choice

Fact Pattern 14-1 (Questions 26-27 apply)
Macho Marketing, Inc., and Nacho Food Corporation (NFC) discuss the terms of a contract. Macho faxes NFC a memo on Macho’s letterhead that summarizes the items on which they agree, including a two-year term. NFC begins to perform, but Macho refuses to pay. NFC begins to perform, but Macro refuses to pay.

-Refer to Fact Pattern 14-1.The transaction between Macho and NFC falls within the Statute of Frauds'

• A)collateral-promise provision.
• B)one-year rule.
• C)sales-of-goods stipulation.
• D)secondary-contracts section.

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Definitions:

Hierarchical Model

A system of organization where entities are ranked one above the other according to status or authority.

Intelligence

The ability to learn, understand, and apply knowledge, solve problems, and adapt to new situations.

Spearman's G

A theory proposed by Charles Spearman that suggests a general intelligence factor underlies all cognitive abilities.

S Factors

Specific factors in intelligence testing that represent particular skills or abilities, as opposed to general intelligence.