Question

Which of the following types of contracts does not fall within the statute of frauds? Select one: A. Contracts not performed within six months B. Contracts for the sale of goods totaling more than $500 C. Contracts for one party to pay the debt of another party if the initial party fails to pay D. Promises made in consideration of marriage E. Agreements related to an interest in land

Answer 1

Answer:

Correct Answer:

C. Contracts for one party to pay the debt of another party if the initial party fails to pay

Explanation:

In a business setting which exist between two parties, when there is a renegation of agreement between the parties involved by one person, then there is consequences. In a situation where the renegation of agreement was deliberate, then, fraud is said to have occurred.

Option C does not fall within the statue of fraud.

Answer 2

The type of contract that does not fall within the statute of fraud is when the one part agrees to pay the debt of another party.

The following are the situations where the fraud could have existed:

• Contract not performed for six months.
• The sale of goods is more than $500.
• The promise is made for marriage.
• Agreements are to be done for land.

Therefore we can conclude that the type of contract that does not fall within the statute of fraud is when the one part agrees to pay the debt of another party.

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