BUS311_chapter_05

Eachoftheaboveexamplesinvolvesthesaleofgoodsforapriceo

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Unformatted text preview: BC Co. offers to employ Ahmad for three years at a salary of $100,000 per year, this contract must be in writing to be enforced, because obviously Ahmad cannot work for three years within a year of accepting ABC’s offer. Likewise, if on February 3, 2011, State University offers to employ Professor Wu to teach business law for one academic year (nine months) beginning on September 1, and Professor Wu accepts on February 8, 2011, the contract must be in writing because Professor Wu will not have performed until May of 2012. Note that we decide if a contract can be performed within a year simply by looking at whether it is hypothetically possible to complete the performance within that time frame. For example, under the traditional rule, if Angela Attorney promises to handle any and all legal matters for the BCA Corporation for the rest of her life in exchange for a yearly retainer of $100,000, her promise need not be in writing. This is because it is hypothetically possible that Angela could go to work for BCA, work six months, and die. In that case, she would have worked the rest of her (regrettably short) life. This is true even if Angela is 29 years old and is...
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