Exam 15: Contracts in Writing

A usage of trade is a practice or method of dealing, regularly observed and followed in a place, vocation, or trade.

_{54. Under the UCC, refers to the manner and extent to which the respective parties to a contract have accepted} Successive tenders of performance by the other party without objection.

In an employment agreement with Karl, Arnold promises to work for Karl for the rest of his life. This promise must be in writing to be enforceable.

Which of the following would NOT require a writing under the statute of frauds?

Most states have statutes requiring which of the following contracts to be evidenced by a writing to be enforceable?

The parol evidence rule applies only to integrated contracts, meaning those in which the parties have assented to the written agreement as the statement of the complete agreement between them.

The word "parol" literally means release.

Most courts consider a merger clause to be conclusive proof of an integrated contract.

The parol evidence rule does not prevent the use of evidence that a party would like to use to establish the defense of fraud, duress, or undue influence.

Under the UCC statute of frauds, which of the following terms must be included in a writing in order to satisfy the writing requirement?

Sam, a shopkeeper, dies unexpectedly at the age of 46. His lifelong business associate, Paul, is appointed the administrator of the estate. Sam had a personal debt of $8,000 which he owed to Art's Appliance Store. Paul says to Art, "If there isn't enough money in the estate, I'll personally see that the bill is paid." Which of the following is correct?

Although a contract to purchase an undeveloped lot must be in writing to be enforceable, a contract to run power lines over someone else's lot need not be.

On March 20, Gordon orally agrees to work for Carrham, Inc. for a period of one year commencing on June 1. No writing is necessary here, because the contract can be performed within one year.

Answer the following: _a. ^{What are the basic requirements of a writing within the statute of frauds in Article 2 of the UCC?} b. What are the three exceptions to the writing requirement found in Article 2? The basic statement of the rule found in UCC Section 2-201 requires a writing sufficient to indicate that a contract has been made between the parties, specifying

The UCC requires that all contracts for the sale of goods must be in writing.

In interpreting a contract, terms which have been separately negotiated are given priority over standardized, pre- printed terms.

In states that have adopted it, the UETA:

Most types of contracts are valid without being written.

Requirements for a memorandum that satisfies the statute of frauds include that the writing:

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.