Jonas enters into an oral contract with Chelsea to lease his house to her for $100,000. Chelsea pays him $100,000 and moves in
A month later, Jonas learns that his state requires contracts for the lease of goods with payments of $1,000 or more to be in writing. Which of the following options does either party have now?
A) Jonas can evict Chelsea as the contract does not comply with the Statute of Frauds and is hence void.
B) The contract cannot be rescinded by either party as it has already been executed.
C) Chelsea can rescind the contract on the grounds of noncompliance with the Statute of Frauds.
D) Jonas can rescind the contract on the grounds of noncompliance with the Statute of Frauds.
B
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If the bonds were issued at 97 on April 1 . 2014, the amount of the discount amortized on July 1 (using the straight-line method) would be approximately
a. $25. b. $76. c. $67. d. $152.
On October 1, Year 1, Tankard Company borrowed $45,000 from the bank and issued a note for that amount. The note had a one-year term and an annual interest rate of 8%.Required:a) Prepare the journal entry to record the issuance of the note.b) Compute the amount of interest expense that will be shown on the Year 1 income statement.c) What is the total amount of cash that will be paid to the bank at the maturity of the note on October 1, Year 2?d) Prepare the liabilities section of the balance sheet at December 31, Year 1.
What will be an ideal response?
The Revised Model Business Corporation Act has been adopted at least in part by more than half of the states
Indicate whether the statement is true or false
War chalking is the practice of tagging pavement with codes displaying where Wi-Fi access is available. The codes for war chalking tell other users the kind of access available, the speed of the network, and if the network is secured.
Answer the following statement true (T) or false (F)