Swiftline Trucking, Inc., and Trailer Rents Corporation are parties to an oral agreement for a one-year lease of six doublewides with payments totaling more than $40,000. They may satisfy the Statute of Frauds by:

a. repeating the terms in a phone call. b. shaking hands on the deal. c. setting out the terms in a memo. d. mutually agreeing not to commit fraud

Question

Business

Luna Young

14 April, 22:48

Swiftline Trucking, Inc., and Trailer Rents Corporation are parties to an oral agreement for a one-year lease of six doublewides with payments totaling more than $40,000. They may satisfy the Statute of Frauds by:

a. repeating the terms in a phone call. b. shaking hands on the deal. c. setting out the terms in a memo. d. mutually agreeing not to commit fraud

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Answers (1)

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Blair · Answer 1

C. Setting out the terms in a memo

Explanation:

According to the statute of frauds, any agreements that made by individuals must be kept in some sort of writing, audios, or videos.

This statute was created to determine accountability in case the agreement fail to be met. Without any writing, audios, or videos, it would be impossible for the court to determine the truth due to the lack of evidence.