Ask Question
19 November, 13:11

Equipment Rental Corporation and Fine Farms, Inc. are parties to an oral agreement for a lease of goods with payments in excess of $1,000. They may satisfy the Statute of Frauds by : a) doing nothinge b) xecuting a written memorandum of their oral agreement c) paying each other additional consideration d) having their representatives restate the terms in a phone call.

+5
Answers (1)
  1. 19 November, 16:07
    0
    The correct option is B

    Explanation:

    The statute of frauds is a legal concept that requires certain types of contracts to be executed in writing. These include those for the sale of land, of any goods over $500 in value, and contracts of a year or more in length.

    Othe agreements covered by the statute of frauds include; Promises made in connection of marriage, contracts that cannot be completed in less than a year, contracts for the sale of land, promises to pay an estate's debt frm the personal funds of the Executor etc.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Equipment Rental Corporation and Fine Farms, Inc. are parties to an oral agreement for a lease of goods with payments in excess of $1,000. ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers