Which of the following statements is true of the Statute of Frauds?
A) An executory contract that is not in writing even though the Statute of Frauds requires it to be is enforceable by either party.
B) Executed oral contracts that should have been in writing under the Statute of Frauds can be rescinded.
C) If an oral contract that should have been in writing under the Statute of Frauds is already executed, either party may seek to rescind the contract.
D) Most states require contracts to pay compensation for services rendered in negotiating the purchase of a business to be in writing.
D
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When a subsequent event provides evidence about conditions that did not exist at the balance sheet date, what is the best course of action for the auditor to follow?
a. Ensure that any necessary footnote disclosures be included with the statements. b. Ensure that the financial statements are adjusted to reflect the information, including any necessary footnote disclosures. c. Give an inappropriate opinion. d. Provide management with a new engagement letter to document the terms of the revised arrangement.
Pre-training involves the teaching of _____
a. salesmanship principles and product knowledge b. various training methods to determine their effectiveness c. company history and policies and a job orientation d. aptitude and achievement tests
At what level of the pyramid of corporate social responsibility will firms do what is right, just, and fair and avoid harm?
A. economic B. philanthropic C. legal D. ethical E. moral
In order for a bailment to be valid, the bailor must be the owner of the subject property
Indicate whether the statement is true or false