When parties to an oral contract have both fully performed their obligations under the contract, the parties are:
A) allowed to rescind the contract.
B) not allowed to rescind the contract.
C) allowed to seek compensatory damages.
D) not allowed to recover the value of the performance in quasi contract.

Question

Quizplus · Accepted Answer

In most states, the statute of frauds makes oral contracts that come within its provisions unenforceable, not void or voidable. If the parties to such an oral contract have both fully performed their obligations, neither is allowed to rescind the contract.

When Parties to an Oral Contract Have Both Fully Performed