the delegating party is relieved of any further obligations under the contract.a. Trueb. False2. The key to determining whether a contract is enforceable under the one-year rule of the statute of frauds is the answer to the following question:a. is it possible to carry out the terms of the contract within one year of the date of the agreement?b. is it likely that the parties will carry out the terms of the contract within one year of the date of the agreement?c. is it reasonable to expect that the parties will carry out the terms of the contract within one year of the date of the agreement?d. do the parties wish to carry out the terms of the contract within one year from the date that the contract will actually begin?3. A written contract or memorandum must be signed by:a. both parties.b. either party.c. the party to be held liable.d. the party bringing suit.4. Which statement is correct regarding the transfer of contractual rights?a. The assignor acquires only such rights as the assignee has under the contract.b. The assignee acquires only such rights as the assignor has under the contract.c. The assignee acquires rights greater than the assignor has under the contract.d. The assignor acquires rights greater than the assignee has under the contract.5. The party to whom rights under a contract are transferred is called the obligor.a. Trueb. False6. If a contract is required to be in writing