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NEW QUESTION: 1
Rivers and Lee want to form a partnership. For the partnership agreement to be enforceable, it must be in
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B. The agreement cannot be completed within one year from the date on which it will be entered into.
C. Either Rivers or Lee is to contribute more than $500 in capital.
D. Rivers and Lee reside in different states.
Answer: B
Explanation:
Choice "b" is correct. A transaction which cannot be completed within a year must be in writing to be
enforceable.
Choice "a" is incorrect. Residence of the prospective partners is not relevant.
Choice "c" is incorrect. The statute of frauds $500 threshold applies to the sale of goods only.
Choice "d" is incorrect. Transactions in land are within the statute of frauds, but the possibility that a
partnership may engage in a real estate transaction is not a transaction in land.
NEW QUESTION: 2
A. Option A
B. Option B
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D. Option D
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Explanation:
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D. Punchdown
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