Which of the following is TRUE with regard to a contract that has to be in writing?
A)If the contract is handwritten,it must be in ink.
B)All implied terms must be carefully identified.
C)If the contract is a guarantee,consideration must be identified.
D)The parties must meet to discuss the terms.
E)The contract does not have to be wholly within a single document.Several written notes may be taken together to satisfy the Statute of Frauds.

Question

Quizplus · Accepted Answer

The Statute of Frauds requires certain contracts to be in writing, but it does not specify that the contract must be in a single document. Several written notes, letters, or documents may be considered together to satisfy the requirement of a written contract. Therefore, choice E is true. The other choices are incorrect. Choice A is false because there is no requirement that a handwritten contract must be in ink. It can be written in any clear and legible format. Choice B is incorrect because the requirement to identify all implied terms applies to all contracts, not just those that need to be in writing. Choice C is incorrect too. While a guarantee contract requires consideration, this is not the only type of contract that needs consideration. Moreover, this is not a requirement for a contract that needs to be in writing. Choice D is incorrect because the parties are not required to meet to discuss the terms of a written contract; they can negotiate in writing or using other means of communication as long as the contract is ultimately reduced to writing.

Which of the Following Is TRUE with Regard to a Contract