A bilateral contract is "taken out of the statute of frauds" when:
A)it is completed within a year from the day of its existence.
B)it is fully performed by at least one party.
C)it is put in writing.
D)it has strict rules of performance.

Question

Quizplus · Accepted Answer

Most states hold that a bilateral contract that has been fully performed by one of the parties is "taken out of the statute of frauds" and is enforceable without a writing.

A Bilateral Contract Is "Taken Out of the Statute of Frauds