Answer:
True - Contracts that require more than one year to complete must be documented in writing
Explanation:
The relevant detail from the scenario for the question is that ''In 2006, Mann and Harris were requested by HIS to undertake another conversion of an apartment building referred to as Park West. For this task, Mann and Harris were once again orally promised a bonus (in addition to their salary) using a similar formula to that of the Windsor Park conversion. It was anticipated that this venture would also take two or three years to conclude.''
According to the statute of frauds, contracts anticipated to last over a year need to be written to have legal standing.
When Mann and Harris were asked to manage the construction of an apartment that would last two to three years, they should have insisted on a written agreement.
HIS took undue advantage of their knowledge of the law and denied them the promised bonus; pursuant to the statute of frauds, they are not legally liable.
Answer:
In one month, you owe $43.47.
Explanation:
Daily Interest for one month is calculated as follows: Balance × APR rate × [number of months / Total months in a year]
Daily Interest = $1800 × 28.99% × 1/12
= $1800 × 0.2899 × 0.0833
= $43.47
