Which of the Following Contracts Would Fall Outside the Statute

question 85

Multiple Choice

Which of the following contracts would fall outside the statute of frauds and does not require a writing?

• A)Lani offers to buy the corner of Ry's property where Ry's horse grazes.
• B)Lani offers to paint Ry's house for $1,000
• C)Lani offers to buy Ry's horse for $1,000.
• D)Lani offers to pay Ry's student loan if Ry defaults.
• E)Lani offers to marry Ry in three years.

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Definitions:

Consolidated Balance Sheet

A financial statement that aggregates the assets, liabilities, and equity of a parent company and its subsidiaries into one document.

Goodwill

An intangible asset that arises when a buyer acquires an existing business, representing the premium paid over the fair value of its net assets.

Proportionate Consolidation Method

An accounting technique used for combining the financial statements of joint ventures, where the investor's share of each line item is included proportionally.

Non-Controlling Interest (NCI)

A financial interest in a subsidiary attributed to shareholders outside of the controlling shareholder group, reflecting their share of the entity's equity that isn’t controlled by the parent company.