Which of the Following Is a Type of Contract That

question 29

Multiple Choice

Which of the following is a type of contract that does not fall within the scope of the statute of frauds?

• A)Contracts related to any lease of land-related equipment
• B)Contracts whose terms prevent possible performance within one year
• C)Contracts related to an interest in land
• D)Contracts for one party to pay the debt of another if the initial party fails to pay
• E)Promises made in consideration of marriage

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Definitions:

Merchandise

Goods brought into a store for resale to customers.

Purchase Discounts

Reductions in price given by a supplier to a buyer for early payment within a specified period.

Purchase Discounts Lost

The additional expense a company incurs when it fails to take advantage of discounts offered by suppliers for early payment.

Voucher Register

A voucher register is a record keeping system where vouchers are indexed and stored, detailing the payment of a transaction.