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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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If taxpayers are married and living together at the end of the year, they must file a joint tax return. True False
scoray [572]

Answer:

True

Explanation:

because its true

5 0
3 years ago
Calculate the planned shortage in dollars if the planned shortage % is 1.64% and the planned net sales are $1,189,000.
EleoNora [17]

Answer:

the planned shortage in dollars is $19,499.60

Explanation:

The computation of the planned shortage in dollars is shown below:

= Percentage of planned shortage × planned net sales

= 1.64% × $1,189,000

= $19,499.60

hence, the planned shortage in dollars is $19,499.60

We simply applied the above formula so that the correct value could come

And, the same is to be considered

6 0
3 years ago
Two traditional economies are trying to industrialize. The leaders of the first favor a command economic system. The leaders of
IgorC [24]

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3 0
3 years ago
Read 2 more answers
The inflation rate is decreasing and unemployment is rising. The economy is likely in
Grace [21]

Answer:

Contraction (recession).

Explanation:

Contraction (recession) refers to a phase of the business cycle in which the economy as a whole is in decline. A contraction generally occurs after the business cycle peaks, when the economy goes through stages as innovation, supply, demand, laws, and politics affect what is made and what is purchased but before it becomes a trough. The first stage of an economy is an expansion where incomes increase with production pushing more consumption and making more work and is marked by the growth of GDP. The next stage is when an economy reaches the high point of this growth known as the peak. After the peak, when a country's real gross domestic product (GDP), the most-watched indicator of economic contraction, has declined for two or more consecutive quarters, then a contraction has occurred.

4 0
3 years ago
Stonehall Inc. recently borrowed $685,000 from its bank at a simple interest rate of 10 percent. The loan is for eight months an
jeyben [28]

Answer:

a. 20.00%  

Explanation:

Monthly loan payment

= (685000*10%*8/12 + 685000)/8

= $91,333.33

PV = -685000

Nper = 8

Using RATE function

= RATE(8,91333.33,-685000,0)*12

= 20%

Therefore, The loan's annual percentage rate (APR) is 20%.

5 0
3 years ago
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