Which of the following statements is true of the writing requirement of contracts, according to the Statute of Frauds?
A) Contracts for the sale of goods for $500 need not be in writing.
B) Contracts for the lease of goods with payments of $101 must be in writing.
C) Finder's fee contracts need not be in writing.
D) Promises made in consideration of marriage must be in writing.

Question

Quizplus · Accepted Answer

The Statute of Frauds requires that promises made in consideration of marriage must be in writing to be enforceable. Choice A is incorrect because contracts for the sale of goods for $500 or more must be in writing. Choice B is incorrect because contracts for the lease of goods with payments of $1,000 or more must be in writing. Choice C is incorrect because finder's fee contracts, like any other contracts, must satisfy the Statute of Frauds to be enforceable, which may or may not require a writing depending on the terms of the contract.

Which of the Following Statements Is True of the Writing