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andrey2020 [161]
2 years ago
13

29. Don and Evon orally agree on the sale of Don's Electrical Supplies Company to Evon and jot down the terms on the back of one

of Don's blank invoices, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain
Business
1 answer:
vekshin12 years ago
6 0

Answer:

the essential terms of the contract.

Explanation:

Generally contracts that involve large transactions like selling a company must be made in writing and must be signed by all the parties. In this case, the sort of wrote a summary of the basic terms of the sale on the back of an invoice, and at least they signed it. As it is, the contract might not be enforceable because it probably lacks a lot of important details, since the amount of space used to write it down was very small specially considering that most of the space was used for the signatures.

So in order to prevent any future problems, and to comply with the statute of frauds, they should make a written memorandum that includes the essential and important terms of the contract, which must be signed also. They could also write down a proper sales contract since they are signing it again.

The statute of frauds establishes that certain contracts must be done in writing, and since this contract probably involves a significant amount of money, it probably falls under it.

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In broad terms, particular performance is not available as a rectification for breach of a agreement when restitution are an adequate rectification for the non breaching organization.  

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Which of the following elements are included on the hierarchy of hazard control?
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Yello Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2019, at a cost
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Answer:

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