Kathy and John decide to form a partnership to sell fish food to local fish farms for the next five years. To be enforceable under the Statute of Frauds, the partnership agreement
A) must be signed by a notary public.
B) must be in writing.
C) must be oral.
D) cannot involve a third party.

Question

Quizplus · Accepted Answer

Under the Statute of Frauds, agreements that cannot be performed within one year must be in writing to be enforceable. Since the partnership agreement is for five years, it must be in writing to be enforceable.

Kathy and John Decide to Form a Partnership to Sell