What type of agreement usually derives its enforceability from statutes?

Prepare for the UCF BUL3130 Legal and Ethical Environment of Business Exam 2. Dive into legal and ethical concepts with flashcards, multiple-choice questions, and detailed explanations. Get exam-ready with comprehensive study resources!

The correct choice is written contracts because they often derive their enforceability from statutory law. Statutes establish the legal requirements for certain types of contracts, such as those involving the sale of goods, real estate transactions, or agreements that must be in writing under the Statute of Frauds. These laws provide a framework that gives written contracts their binding power in a court of law.

For example, in many jurisdictions, agreements pertaining to the sale of real estate must be in writing to be enforceable. This reliance on statutes underscores the importance of formalizing agreements in writing, which can provide clarity and legal protection for all parties involved. Moreover, having a written document serves to prevent disputes regarding the terms of the contract, as it provides concrete evidence of what was agreed upon.

Other types of agreements like oral agreements rely solely on the parties’ mutual understanding and recollection of discussions, which may be difficult to enforce in the absence of supporting evidence. Social agreements, typically seen in informal contexts, do not carry legal weight, and implied agreements derive from actions or conduct rather than explicit terms that would be supported by statutory law. Therefore, written contracts stand out as the agreements that most directly receive enforceability from statutes.

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