it\'s business law class. short answers please as much as possible. Thanks KEY C
ID: 363781 • Letter: I
Question
it's business law class. short answers please as much as possible. Thanks
KEY CONCEPTS: 1) What types of contracts fall within the statute of frauds? 2) What are the requirements to satisfy the statute of frauds? 3) What is the difference between an assignment and a delegation? 4) What types of contracts can neither be assigned nor delegated? When can a non-party enforce a contract? What are the different ways a contract can be 5) 6) discharged? 7) What is the purpose of contract remedies and what are the 2 main types? What are the 5 types of contract damages? List the 3 types of equitable remedies 8) 9)Explanation / Answer
1)
Contract refers to the voluntary arrangement between two or more parties is a legal agreement and can be enforceable. Contract can be in written or oral form.
The statue of fraud is nothing but requirements for certain kind of contract that needs to be in a written form, signed by the parties involved with sufficient evidence. The main purpose is to prevent fraud and other types of injury.
These six categories should be in written form and not verbal and should be signed by the party. These include: -
2)
The requirements to satisfy the statute of fraud is that the contract needs to be in a written form, signed by the parties involved with sufficient evidence. The main purpose is to prevent fraud and other types of injury.
The purpose of the contract is that it formalize the agreement between the parties so that it can be considered seriously. The statute of frauds prevent fraudulent conduct of one party to another.
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