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steposvetlana [31]
2 years ago
10

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

Business
1 answer:
____ [38]2 years ago
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.

Read more about Statute of Frauds

brainly.com/question/14854791

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Assume you have $2,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level
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$1,667.67

Explanation:

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Anything that is worth $120 in the beginning of the year is worth $100 at the end of the year.

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