A Contract That Cannot,by Its Own Terms,be Performed Within One

question 29

True/False

A contract that cannot,by its own terms,be performed within one year from the day after the contract is formed does not need to be in writing to be enforceable under the Statute of Frauds.

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Definitions:

Punishment

The imposition of a penalty as a consequence of an undesirable action, aimed at reducing that behavior.

Negative Reinforcement

A process in behavioral psychology where a response increases because a negative condition is removed or avoided.

Secondary Reinforcer

A type of reinforcer which does not satisfy a basic biological need but has been learned to be valuable through association with primary reinforcers.

Conditioned Response

A learned response to a previously neutral stimulus that has become associated with a meaningful stimulus.