QUIZ WK1 Business Law II 1. Under the Statute of Frauds, oral contracts are void
ID: 404262 • Letter: Q
Question
QUIZ WK1 Business Law II
1. Under the Statute of Frauds, oral contracts are void.
A) True
B) False
2. A contract that by its own terms cannot be performed within a year must be in writing to be enforceable.
A) True
B) False
3. An oral contract for a transfer of land is never enforceable.
A) True
B) False
4. A contract must be in writing to be enforceable if it makes performance possible only over a period of more than one year.
A) True
B) False
5. Randy and Beach Biz Company enter into an oral contract under which Randy agrees to clean Beach Biz
Explanation / Answer
1)true
2)false
3)true
4)true
5)B) Beach Biz only.
6)D) $50, $500, or $5,000.
7)C)50
8)D) the qualitative terms.
9)B) Miranda only.
10)D) the laptop and MP3 purchases only.
11)A) no particular signatures.
12)C) the admissibility in court of oral evidence.
13)true
14)false
15)true
16)false
17)true
18)D) not a delegation, an assignment, or a third party beneficiary contract.
19)C) a third party beneficiary contract.
20)B) an assignee.