Exam 15: Contracts in Writing

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A collateral promise is an undertaking to be primarily liable for the principal debtor's debt.

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Which of the following need NOT be contained in a memorandum,which satisfies the general statute of frauds writing requirement?

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In determining the meaning of a contract under the UCC,which of the following will have first priority?

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Under the UCC,a(n)____ is a practice or method of dealing,regularly observed and followed in a place or vocation or trade.

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The test under the one-year provision of the statute of frauds is whether the terms of the contract make it possible for performance to occur within one year.

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Yukino pays $500 toward the purchase of a boat from Tyler.Although their agreement for the sale of the boat for $2,200 is oral,courts agree that her part payment and its acceptance by Tyler make the contract enforceable.

(True/False)
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Define the statute of frauds and give an example.

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With regard to the interpretation of a contract,what priority is given to each of the following items? (a) Course of dealing (b) Usage of trade (c) Express terms (d) Course of performance

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The parol evidence rule would allow evidence to be introduced to explain what the parties meant by a particular technical term in the agreement.

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Clara types a letter to David setting forth the terms of their contract that falls within the statute of frauds.At the end of the letter,she types her name but does not sign her signature to it.If David wants to use the letter to satisfy the writing requirement,he may do so.

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Which of the following would be admissible under the parol evidence rule? Assume the written contract was made on June 1,2018,and that it is an integrated document.

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The statute of frauds requires all contracts that can be fully performed within one year of their making to be in writing or proper electronic form.

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The statute of frauds prohibits fraud in the inducement of a contract.

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Which of the following is untrue with regard to the interpretation of contracts?

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The test under the one-year provision of the statute of frauds is based on the likelihood that the contract will be completed within one year.

(True/False)
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