Question

Certain contracts, such as those involving the sale of personal property for $500 or more:_______.

a. need not be signed to be enforceable
b. must be written to be enforceable
c. must be orally accepted to be enforceable
d. must be divisible in nature

Answer 1

B. Must be written to be enforceable

Step-by-step explanation:

In the United state, sale of personal property for $500 or more must be written to be enforceable. These kind of contracts are said to be within the statute of fraud.

These types of contracts are called Sales contracts which is an agreement between the buyer and seller. For the amount of money involved, a written contract provides security and peace to the mind of all those involved in the contract, hence why deals above $500 must be written to be enforceable.