# 30. Describe the one-year rule. Explain why the following scenario does not satisfy this rule and therefore

###### Question:

30. Describe the one-year rule. Explain why the following scenario does not satisfy this rule and therefore must be in writing: Mary is employed by a local college, whereby Mary and the college agree to one academic year of teaching beginning August 31, 2020, and ending May 20, 2021. They verbally agree to these terms on April 3, 2020. •
31. Describe the rule on collateral promises. Explain why the following promise by Hank must be in writing to be enforceable: Hank and his mom Cathy enter a bank together. Cathy wants a $10,000 loan from the bank. She is willing to sign the written document regarding the loan’s terms, but the bank officer is hesitant. Hank states “do not worry, if my mom cannot pay the loan, I will pay it.” The written agreement between the bank and Cathy is signed; Cathy defaults on her loan 3 months later, and the bank goes after Hank for payment. 32. Describe why, under the Uniform Commercial Code (UCC), the following scenario must be in writing to be enforceable: James and Teesha agree that James will delivery$1,000 worth of toys to Teesha’s toy shop by October 1, 2020, and Teesha agrees to pay \$1,000 by November 1, 2020.

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