under the statute of frauds, which of the following statements is true of the one-year rule for contracts? multiple choice the possibility that a contract's terms could be performed within one year does not remove the contract from the statute's writing requirements. if a contract can possibly be performed within a year, but such performance is highly unlikely, then the contract needs to be in writing to be enforceable. under the statute, the one-year period begins the day after the contract is created, not when it is scheduled to begin. the test for compliance with the one-year rule considers the likelihood of completing the contract in one year rather than the possibility.
