Which of the following statements about the "in writing" requirement for the majority of states is false?
A)The entire contract must be in writing.
B)To satisfy this requirement,a memorandum of the parties' agreement will suffice.
C)The essential terms of the contract must be stated in the writing.
D)The writing need not have been created with the intent that the memorandum itself would be binding.

Question

Quizplus · Accepted Answer

The statutes of frauds of the various states are not uniform in their formal requirements.However,most states require only a memorandum of the parties' agreement;they do not require that the entire contract be in writing.Essential terms of the contract must be stated in the writing.The memorandum must provide written evidence that a contract was made,but it need not have been created with the intent that the memorandum itself would be binding.

Which of the Following Statements About the "In Writing" Requirement