Question: Angelo borrows $2,000 from Maria. Maria electronically transfers Angelo the $2,000. Angelo promises to pay Maria the full amount in four $500 yearly installments of

Angelo borrows $2,000 from Maria. Maria electronically transfers Angelo the $2,000. Angelo promises to pay Maria the full amount in four $500 yearly installments of $500. Is such an agreement enforceable?

a. Yes, because Maria has fully performed by making the loan.

b. No, because the contract exceeds the one-year provision of the statute of frauds.

c. No, because this involves the sale of goods.

d. None of these answers are correct.

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