Saundra and Maxine present at a car lot to purchase a car for Saundra. Saundra applies...

   

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Saundra and Maxine present at a car lot to purchase a car for Saundra. Saundra applies for a $40,000 financing loan for the vehicle of her choice. The finance company found that Saundra was not creditworthy due to insufficient proof of income. To support the loan application and improve chances of approval, Maxine orally promises the finance company that she will be responsible for paying back the loan if Saundra does not. What part of this arrangement must be in writing in order to be enforceable? Explain. On September 2, 2018, Jackson State University entered an oral contract in which Jackson State University agreed to pay recording artist Da Baby $20,000 to perform at a homecoming event on March 2, 2020. Must this contract be in writing in order to be enforceable? Explain. Terrance and Doug enter into an oral contract. Terrance agrees to sell Doug his house for $500,000. After they agree, Doug in an attempt to prepare the house before he moves in, painted the home and added a small garage. Thereafter, Terrance decides he does not want to move forward with the contract and suggests to Doug that he can cancel the contract since the oral agreement should have been in writing and is not. Can Terrance use the statute of frauds as a defense to invalidate the home purchase agreement? Explain Terrance and Doug enter into an oral contract. Terrance agrees to sell Doug his house for $500,000. After they agree, Terrance executed all documents necessary and conveys title of the property to Doug. Thereafter, Doug decides that he does not want to move forward with the contract and explains to Terrance that he can cancel the contract since the oral agreement should have been in writing and is not. Can Doug use the statute of frauds to invalidate the home purchase agreement? Explain. Saundra and Maxine present at a car lot to purchase a car for Saundra. Saundra applies for a $40,000 financing loan for the vehicle of her choice. The finance company found that Saundra was not creditworthy due to insufficient proof of income. To support the loan application and improve chances of approval, Maxine orally promises the finance company that she will be responsible for paying back the loan if Saundra does not. What part of this arrangement must be in writing in order to be enforceable? Explain. On September 2, 2018, Jackson State University entered an oral contract in which Jackson State University agreed to pay recording artist Da Baby $20,000 to perform at a homecoming event on March 2, 2020. Must this contract be in writing in order to be enforceable? Explain. Terrance and Doug enter into an oral contract. Terrance agrees to sell Doug his house for $500,000. After they agree, Doug in an attempt to prepare the house before he moves in, painted the home and added a small garage. Thereafter, Terrance decides he does not want to move forward with the contract and suggests to Doug that he can cancel the contract since the oral agreement should have been in writing and is not. Can Terrance use the statute of frauds as a defense to invalidate the home purchase agreement? Explain Terrance and Doug enter into an oral contract. Terrance agrees to sell Doug his house for $500,000. After they agree, Terrance executed all documents necessary and conveys title of the property to Doug. Thereafter, Doug decides that he does not want to move forward with the contract and explains to Terrance that he can cancel the contract since the oral agreement should have been in writing and is not. Can Doug use the statute of frauds to invalidate the home purchase agreement? Explain.

Answer rating: 100% (QA)

1In the first scenario Maxines oral promise to pay back the loan if Saundra is unable to does not ne... View the full answer