A valid contract may be unenforceable for which reason(s)?
A)Failure to satisfy the statute of frauds.
B)Running of the statute of limitations.
C)Both (a) and (b).
D)A valid contract is always enforceable.

Question

Quizplus · Accepted Answer

A valid contract may become unenforceable if it fails to satisfy the statute of frauds, which requires certain contracts to be in writing to be enforceable, such as contracts involving real estate, goods over a certain value, or agreements that cannot be performed within one year. Additionally, a valid contract may become unenforceable if the statute of limitations has run, meaning the time period for taking legal action has expired. Therefore, both (a) and (b) are reasons why a valid contract may be unenforceable. A valid contract is not always enforceable, as there are certain legal requirements and conditions that must be met for a contract to be enforceable.

A Valid Contract May Be Unenforceable for Which Reason(s)