BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -If fraud law applies, a written contract must be in place for the agreement to be enforceable. The purpose of the written form under the Fraud Act is to prevent fraud. The Fraud Act ensures that certain types of important contracts are written. Written contracts are often more reliable.

Detailed explanation-2: -Most contracts can be either written or oral and still be legally enforceable, but some agreements must be in writing in order to be binding. However, oral contracts are very difficult to enforce because there’s no clear record of the offer, consideration, and acceptance.

Detailed explanation-3: -As previously noted, if the contract is indefinite, meaning that there is no end date, then it need not be in writing. However, if the contract is expected to outlive one or more of the parties involved in the contract, then it must be in writing in order for it to be enforceable.

Detailed explanation-4: -A contract can either be written or verbal, and while both can be legally binding, some contracts are required to be written in a designated format to be enforceable. Contract law is complex and differs between jurisdictions.

Detailed explanation-5: -According to U.C.C. Section 2-201, any contract for the sale of goods for the price of $500 or more must be in writing. There are, however, certain exceptions to this rule in which an oral contract for the sale of goods of $500 or more will be enforced.