The first scheduled passenger flight occurred in the United States.
a. true
b. false
Answer: b. false
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A contract
A) must have commercial substance to be legally enforceable. B) may qualify for revenue recognition even if one party can unilaterally cancel the contract before performance. C) must be in writing to be enforceable for accounting purposes. D) is an agreement that creates enforceable rights and obligations.
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What will be an ideal response?
Shareholder voting agreements have to be filed with the corporation
Indicate whether the statement is true or false
Under UCC Section 2-201, contracts for the sale of goods of $500 or more fall within the statute of frauds and must be in writing to be enforceable. Exceptions to this rule include all but which of the following?
A) the agreement is between a merchant seller and a non-merchant buyer B) one of the parties to a suit admits in writing or in court to the existence of an oral contract C) a buyer accepts and uses the goods D) the contract is between merchants, and the merchant who is sued received a written confirmation of the oral agreement and did not object within 10 days.