Question

Instructions: Answer each of the following questions in 10 sentences or less. Type and label your answers. Use the IRAC format.A) Do the following contracts need to be in writing to be enforceable? Explain why or why not.1. An agreement of sale for a piece of real estate for a corporation to build a new warehouse for $1,000,000.2. A contract for consulting services for $80,000 over the next 11 months.

Answer 1

A) Do the following contracts need to be in writing to be enforceable? Explain why or why not.

1. An agreement of sale for a piece of real estate for a corporation to build a new warehouse for $1,000,000:

Yes, this agreement of sale would be enforcable only if it is to be made in a written contract because it is having sale of real estate. Any sale of the real estate would demand a written contract to make the agreement and contract enforceble.

2. A contract for consulting services for $80,000 over the next 11 months:

No, this agreement or contract could also be enforced if not put into a written contract because the time period of the service is of 11 months. When the time period of the service is more than an year, then a written contract is required otherwise not.