Business Finance Homework Help

Sammy agreed to sell and Larry agreed to buy Sammy’s car for $400, payable upon delivery.
Sammy delivered and left the car with Larry. However, Larry failed to pay Sammy the $400.
After eight years had passed following the delivery and acceptance of the car by Larry, Sammy
sued Larry in state court for failure to pay him the $400. Based only on the above stated facts,
which of the following statement is most accurate? Assume the UCC applies and the statute of
limitations for oral contracts is two years and for written contracts is four years.

a. No contract was ever created between Sammy and Larry.

b. A contract was created but likely not enforceable because the statute of limitations has
expired.

c. A contract was created, but it is only enforceable if it is in writing.

d. A contract was created and is enforceable.