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

question 41

True/False

A written contract that cannot,by its own terms,be performed within one year from the day after its formation is enforceable.

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Definitions:

Tutoring

The act of providing personal or group instruction or assistance in a particular subject or skill, aiming to improve the learner's understanding or proficiency.

Invoiced

The process of sending a document to a customer indicating amounts owed for goods or services provided.

Prepaid Insurance

An asset account that represents insurance premiums paid in advance for coverage extending beyond the current accounting period.

Expired Insurance

Insurance coverage that has reached the end of its policy term and is no longer in effect.