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Randy and Sam orally agree to the sale of 1,000 pencils at $.25 each. This contract is Group of answer choices Enforceable Not enforceable because it is not in writing Enforceable only if Sam is a merchant
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44 votes
44 votes
Randy and Sam orally agree to the sale of 1,000 pencils at $.25 each. This contract is Group of answer choices Enforceable Not enforceable because it is not in writing Enforceable only if Sam is a merchant Enforceable only if both parties are merchants

User Akia
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1 Answer

15 votes
15 votes

Answer:

Enforceable

Step-by-step explanation:

Statute of frauds are legal requirements that a contract must have before it is considered to be enforceable.

Normally written contracts are required for transactions that are above $500, for sale of land, and transctions that last one year or longer.

The contract amount in the given scenario is (1000 pencils * $0.25) = $250

This amount falls below what is required for a written agreement. So an oral agreement can suffice in this case.

The contract is enforceable

User Ftynse
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3.0k points
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