Asked by Susana Contreras on May 09, 2024
Verified
Baker and Able signed a contract,which required Able to purchase 600 books from Baker at Baker's wholesale cost at the time of delivery.Under the circumstances,the oral agreement is:
A) unenforceable,because Able failed to give consideration,but proof of it will be otherwise admissible into evidence.
B) unenforceable,due to the statute of frauds,and proof of it will be inadmissible into evidence.
C) enforceable,but it is not a valid agreement.
D) enforceable,and proof of it will be admissible into evidence.
Statute Of Frauds
A rule of law that mandates specific kinds of agreements must be documented and signed to have legal force.
Oral Agreement
A verbal contract between parties where terms are agreed upon through spoken communication rather than in writing.
- Interpret the transfer of title and risk of loss in different contractual scenarios.
Verified Answer
HM
Hawwa MohamedMay 16, 2024
Final Answer :
D
Explanation :
Under the UCC,if the agreement gives either party the power to fix the price,that part must do so in good faith.
Learning Objectives
- Interpret the transfer of title and risk of loss in different contractual scenarios.