BUS 1001 Unit 2 Challenge 1 Questions and Answers(100% VERIFIED A+ GRADED )2024 LATEST VERSION

Unit 2 Challenge 1 A purpose of the Statute of Frauds is to __________.  a.)prevent one party from falsely claiming that a contract was formed in certain areas of exchange  b.)enforce the full execution of oral contracts  c.)outline the penalties for committing fraud in certain kinds of contracts  d.)ensure that contracts formed for fraudulent purposes are preserved in writing A contract is usually rendered unenforceable when __________.  a.)the contract is formed under the threat of bankruptcy  b.)one party's assent to the contract occurs because of a threat of physical force  c.)the contract represents an unequal exchange of goods or services  d.)the contract unfairly disadvantages one party to the contract the contractual element of agreement requires __________.  a.)an offer with definite terms, but not an acceptance  b.)mutual assent between persons  c.)a verbally communicated offer and acceptance  d.)an offer and acceptance in written form The local police station offers a $1,000 reward for anyone who can provide information about a robbery at a gas station. Mason calls the police with a tip that leads to the arrest of the thief. Mason and the police have a(n) __________.  a.)bilateral contract  b.)unilateral contract  c