In Which of the Following Situations Would There Be an Enforceable

question 126

Multiple Choice

In which of the following situations would there be an enforceable contract despite the lack of a written contract?

• A) Contractor Joe agreed to build a $250,000 home for Sam on Sam's land, to be completed no later than 9 months from the date of signing.
• B) Jack leases a storage facility for duration of his 2-year army hitch.
• C) Sam agreed to guarantee a loan for his friend Joe.
• D) Sam agreed to trade his vacation cottage with Joe in exchange for Joe's yacht.
• E) Jack agreed to build a garage for Sam after he finished the remainder of his 2-year army hitch (he has 14 months left).

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Definitions:

Current Ratio

Current assets divided by current liabilities.

Inventory Turnover

Sales divided by total inventory.