Any Collateral Promise Falls Outside the Statute of Frauds and Does

question 14

True/False

Any collateral promise falls outside the Statute of Frauds and does not need to be in writing to be enforceable.

---

Definitions:

Supporting Data

Information or data used to provide assistance, evidence, or to back up a decision or understanding in various contexts.

Normative Statements

Assertions about how the world ought to be, incorporating values and judgments rather than just factual claims.

Scientific Method

A systematic approach to research where a problem is identified, relevant data is gathered, a hypothesis is formulated from these data, and the hypothesis is empirically tested.

Economic

Pertains to the production, distribution, and consumption of goods and services, and the analysis of behaviors and decisions related to these processes.