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2 years ago

To satisfy the Statute of Frauds, a written contract or agreement must contain a description of the consideration promised.

1 answer:

3 0

It is a true statement that a typical written contract or agreement must contain a description of the consideration promised in order to satisfy the Statute of Frauds.

<h3>What is the Statute of Frauds?</h3>

This refers to the legal concept that requires certain types of contracts to be executed in writing.

In the legal field, the Statute of Frauds covers contracts for the sale of land, agreements involving goods worth over $500 and contracts lasting one year or more.

Most times, the Statute of Frauds can be satisfied by any signed writing that:

identifies the subject matter of the contract
is sufficient to indicate that a contract exists
states with reasonable certainty the material terms of the contract.

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Sorry, I withdraw my question.

guajiro [1.7K]

Answer: >?

Explanation:

8 0

2 years ago

Read 2 more answers

The following information relates to Kew Company's Vale Division for last year: sales .................................. $500,00

-Dominant- [34]

Answer:

$114,000

Explanation:

The computation of the residual income is shown below:

As we know that

Residual Income = Net operating Income - Average Operating assets × Required rate of return

where,

Net Operating Income is

= Sales Revenue - Variable Costs - Fixed Costs

= $500,000 - $300,000 - $50,000

= $150,000

And,

Average operating Assets is

= Net Operating Income ÷ Return on Investment

= $150,000 ÷ 0.25

= $600,000

So, the residual income is

= $150,000 - $600,000 × 6%

= $150,000 - $36,000

= $114,000

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3 years ago

What is the difference between a checking and savings account?

Nat2105 [25]

A checking account is what you would use to make everyday purchases, and what you usually put the majority of your check into. Savings accounts are used to save money over periods of time. A percentage of your check may go in a savings account that you don't use.

8 0

3 years ago

What is enterprise in your own <br> words

dusya [7]

Answer:

It is something that requires a lot of work

Explanation:

It i sthis answer because it need a lot of people to do it because it is a lot work because it is a big projector / problem

4 0

2 years ago

Opal Corporation, an accrual method, calendar year C corporation, was formed and began operations on July 1, 2019. The following

IceJOKER [234]

Answer:

The correct answer to the following question will be "$5427".

Explanation:

The given expenditures are:

Temporary director's as well as organisational meetings expenditures = $8000

Fee payable to either the incorporation province = $2000

Incident accountants for organisation = $3500

Legal resources and by-laws for writing the company charter = $4300

So that total qualifying expenses will be :

⇒ $17,800

Now,

Deduction regarding section 248 election:

Immediate expensing = $5000

Amortization = $\frac{(total \ qualifying \ expenses-immediating \ expensing )}{180\times 6}$

On putting the values in the above formula, we get

⇒ = $\frac{(17800-5000)}{180\times 6}$

⇒ = $ $427$

Hence the deduction on election regarding section 248 = $5,427

5 0

3 years ago