In Most States, the Statute of Frauds Makes Oral Contracts

question 46

True/False

In most states, the statute of frauds makes oral contracts that come within its provisions void or voidable, not unenforceable.

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Definitions:

Sales

Revenue generated from the selling of goods or services within a specific period.

Equity Multiplier

A financial leverage ratio that measures the proportion of a company's assets that are financed by shareholder's equity.

Times Interest Earned

A financial ratio that measures a company's ability to meet its interest obligations, calculated as earnings before interest and taxes (EBIT) divided by interest expenses.

Interest Expense

The cost incurred by an entity for borrowed funds, reflected in its income statement.