Exam 15: The Statute of Fraudswriting Requirement

For a particular contract to fall under the one-year rule, the parties must subjectively believe that its performance is impossible to complete within a year.

A contract must be in writing to be enforceable if its performance is not likely within a year of its formation, even if that performance is possible.

A memorandum evidencing an oral contract must contain every term of the deal to be enforceable.

Grain Co-op LLC and Hearty Cereals Inc. discuss the terms of a contract for deliveries of corn over a two-year period. This transaction falls within the provision of the Statute of Frauds involving

An oral contract that should be in writing to be enforceable under the Statute of Frauds may be enforceable if it has been partially performed.

A promise to pay a primary obligation normally must be in writing to be enforceable.

Lew tells a representative of Music Inc. that he will pay for Nora's trumpet if she does not. Lew does not secure any personal benefit for this promise. This promise is enforceable as a contract

In a transaction for the sale of a warehouse, Storage Company tells Truck Transfer Corporation that the office furniture is included. The contract says nothing about furniture, but does state, "This document supersedes all oral promises relating to the sale." Is the furniture part of the sale? Why or why not?

A contract involving consumer goods of any price must be in writing to be enforceable.

Daredevil Rides Inc. owes debts to Equipment Company and Food Supplies, Inc. Equipment orally agrees to assume Daredevil's debt to Food to prevent the concessionaire from filing a suit against Daredevil. This agreement is enforceable by

A contract must be in writing to be enforceable if it cannot by its terms be performed within one year from the day after the contract's formation.

Oscar orally agrees with Poppy's Pizza to provide delivery service to its customers for nine months. This contract is enforceable by

To cater a holiday banquet, Food Service LLC agrees to buy one hundred pumpkin pies from Great Desserts Inc. To be enforceable, the agreement must be in writing if the pies cost at least

Waterfront Hotel Corporation in Boston offers a job to Carol, who lives in Denver. Carol orally agrees to work for Waterfront for two years. She moves her family to Boston and begins work. Three months later, she is fired for no stated cause. She files a suit against the employer for reinstatement or pay. Waterfront pleads the lack of a written contract. In whose favor is the court likely to rule, and why?

An agreement made before marriage that defines each partner's interest in the other partner's property is a collateral promise.

Quinn and Ruth orally agree on the sale of Seafood Shippers Inc. and jot down the terms on the back of one of Seafood's blank invoices, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Guardian Security Inc. and Hedge Fund Corporation enter into an oral contract under which Guardian agrees to provide services for Hedge's offices for as long as needed. This contract may be enforceable by

Parol evidence can be introduced at trial to correct an obvious clerical error in a contract if the error clearly does not represent the parties' agreement.

An oral contract is at least as reliable as one whose terms are put in writing.

The assumption of direct financial responsibility for a debt does not need to be in writing to be enforceable.