Asked by Jegam Rijal on Jun 24, 2024
Verified
Which statement about the statute of frauds is true?
A) All contracts must be in writing in order to be enforced.
B) Contracts for the sale of goods for $500 or more must be in writing in order to be enforced.
C) Contracts for the sale of land for $500 or more must be in writing in order to be enforced.
D) All employment contracts must be in writing in order to be enforced.
Sale of Goods
A commercial transaction where the ownership of physical products is transferred from the seller to the buyer for a price.
Statute of Frauds
A legal principle requiring certain types of contracts to be in written form in order to be enforceable.
- Comprehend the distinct contracts mandatorily written under the statute of frauds provisions.
Verified Answer
SP
Sanjeet PandeyJun 27, 2024
Final Answer :
B
Explanation :
According to section 2-201 of the UCC,contracts for the sale of goods for $500 or more must be in writing in order to be enforced.
Learning Objectives
- Comprehend the distinct contracts mandatorily written under the statute of frauds provisions.