Title: Explain elements of sales and purchase contracts.
Course: Agricultural Business Operations II (18201-36) > Section: Using Business Laws in Agribusiness

Explanation should include

- negotiation of the sale
- contract agreements
- statute of frauds (SOF).

Process/Skill Questions:

- What is consideration?
- What characteristics constitute capacity?
- When does the SOF apply?
- If the SOF applies, what must the contract have, to be enforceable?
- What is surety or guaranty?
- What is an executor?
- What is personal liability?
- What are some examples of contracts involving real estate?
- What is the ordinary course of a seller's business?
- What does it mean for a contract to be signed by the party against whom enforcement is sought?