Asked by
Summer Benson
on Nov 27, 2024
Verified
An oral sales contract for goods priced at less than $500 is unenforceable.
Oral Sales Contract
A verbal agreement between parties for the purchase and sale of goods or services, which may be legally binding depending on the context and the nature of the transaction.
Enforceable
Refers to a legal agreement that can be upheld or compelled in a court of law.
- Distinguish the categories of contracts that are regulated by the provisions of the Statute of Frauds.
- Understand the impact of the Statute of Frauds on the enforceability of contracts involving the sale of goods.
Verified Answer
AM
Learning Objectives
- Distinguish the categories of contracts that are regulated by the provisions of the Statute of Frauds.
- Understand the impact of the Statute of Frauds on the enforceability of contracts involving the sale of goods.