Question: true or false with explanation please help :/ 1. True/False Tournament, Round 1. Please state if each of the 5 statements below is true or
1. True/False Tournament, Round 1. Please state if each of the 5 statements below is true or false, explaining your reasoning with each answer. b. Walter Lee and Willie are planning to form a partnership to open a liquor store in Chicago. They agree to all terms of their partnership, including that they will share all profits 50/50 and that they both will dedicate their full efforts to the success of the store. They do not write a written contract, though. If Walter Lee gives Willie Walter Lee's share of the initial investment, and Willie then disappears with the money without upholding his obligations pursuant to the contract, the contract between Walter Lee and Willie will not be enforceable because it is not in writing. Mr. Linder sells Mrs. Younger a house in Clybourne Park, Illinois, a suburb of Chicago. The house is considered a "good" and the contract will be governed by Article 2 of the UCC. Travis, Walter Lee's 12-year-old son, is not excited about moving from Chicago to Clybourne Park, until he realizes that he finally will be able to own and ride a bicycle. He takes some money that his grandmother had given him and puts a down-payment on an expensive bicycle. In the installment sales contract, Travis agrees to make monthly payments until the
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