List the six (6) types of contracts that must be in writing.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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5. List the six (6) types of contracts that must be in writing.
Expert Solution
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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.
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