Asked by Britney Hicks on Jul 08, 2024
Verified
An example of an enforceable oral contracts is:
A) an oral promise to paint the exterior of a shed for $200.
B) an oral agreement to substitute different land for that described in the original lease contract.
C) an oral agreement to extend an employee's contract for six months to a total of two years.
D) an oral promise to guarantee the additional duties of another.
Enforceable Oral Contracts
Verbal agreements that are recognized by law as binding, provided they meet certain criteria and are not for purposes requiring written contracts under the statute of frauds.
Substitute
An alternative or replacement for something else, often found or used when the original is unavailable or unsuitable.
Extend
To prolong the duration of something or to reach out in space or time.
- Differentiate between enforceable oral and written contracts.
Verified Answer
DT
Deonshay ToomerJul 12, 2024
Final Answer :
A
Explanation :
Oral contracts are generally enforceable, but there are exceptions, such as contracts involving real estate (B), contracts that cannot be performed within a year (C), and surety agreements where one promises to guarantee another's debt or obligation (D). The example of an oral promise to paint a shed for $200 (A) does not fall into these exceptions and is typically enforceable.
Learning Objectives
- Differentiate between enforceable oral and written contracts.