Asked by Elena Martinez on Jul 04, 2024
Verified
A valid contract may be unenforceable for which reason(s) ?
A) Failure to satisfy the statute of frauds.
B) Running of the statute of limitations.
C) Both f ailure to satisfy the statute of frauds and r unning of the statute of limitations.
D) A valid contract is always enforceable.
Statute of Frauds
A legal concept requiring certain types of contracts to be in writing and signed by the party being charged, to prevent fraud and perjuries in the court system.
Statute of Limitations
Law that sets the maximum period which one can wait before filing a lawsuit, depending on the type of case or claim.
Unenforceable
Referring to a contract or clause that cannot be executed or enforced by law.
- Differentiate between contracts that can be legally enforced and those that cannot, focusing on legal criteria like the statute of frauds and the statute of limitations.
Verified Answer
Learning Objectives
- Differentiate between contracts that can be legally enforced and those that cannot, focusing on legal criteria like the statute of frauds and the statute of limitations.
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