Legal Concepts40) Which of the following statements is true of the Statute of Frauds?A) An executory contract that is not in writing even though the Statute of Frauds requires it to beis enforceable by either party.B) Executed oral contracts that should have been in writing under the Statute of Frauds can berescinded.C) If an oral contract that should have been in writing under the Statute of Frauds is alreadyexecuted, either party may seek to rescind the contract.D) Most states require contracts to pay compensation for services rendered in negotiating thepurchase of a business to be in writing.

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