Answered

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Retail Company and Sales Wholesale Corporation enter into a contract for a sale of beach toys for $5,000. To be enforceable, the contract should be in writing and identifya. ​the source of payment.b. ​the price.c. ​the terms of payment.d. ​the quantity.

Sagot :

Option d is correct. To be enforceable, the contract should be in writing and identify the quantity.

All contracts must be in writing to be enforceable under the Statute of Frauds. If the contract makes performance conceivable within any specific time frame, it must be in writing to be enforceable. Any agreement concerning property must be in writing in order to be upheld.

An anticipatory repudiation is seen as a significant contract breach when it takes place.

A second agreement that satisfies the legal requirements for a contract must be made by the parties in order to rescind an earlier agreement. Through novation, a contractual obligation cannot be released.

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