What is the meaning of contracts

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Question:

The Painted Images (PI) owners are having difficulty understanding the application of the Statute of Frauds to their business and have several questions about the doctrine. With Pat's and Gale's approval, you email the PI owners answering their questions in paragraph format.

A. What is the meaning of "Contracts not to be performed within 1 year"?

B. What is an example of a contract not to be performed within 1 year that could arise in the context of the PI business?

C. Is the following hypothetical scenario below a valid sales contract under the Statue of Frauds - why or why not?

Scenario: Buyer purchased $1200 worth of paint from PI. Buyer paid in cash; PI gave Buyer a cash register receipt for the purchase.

Attachment:- References.rar

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This work has been done in the form of an e-mail that presents the application of the Statute of Frauds to PI business. It addresses three different questions, it has been done in 450 words in MS-Word.

Reference no: EM131936214

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