Question 1

The parol evidence rule applies to partially written agreements.

Accepted Answer

A) True 
 B)False

Question 2

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.

Accepted Answer

A) True 
 B)False

Question 3

An example of language creating a suretyship as meant under the statute of frauds would be the following: "If my business partner does not write out the check for the supply bill for our company, I will."

Accepted Answer

A) True 
 B)False

Question 4

Which of the following promises in consideration of marriage would be outside the statute of frauds?

Accepted Answer

A)  In consideration of Joan's promising to marry him, a man promises to pay her an allowance and to give her all of his property upon his death. 
B)  John and Mary mutually agree that their marriage shall not affect the existing property rights of the other. 
C)  John and Joan mutually promise to marry each other in a formal ceremony on June 23. 
D)  Joan promises to release a money judgment against Steven in consideration of his marrying her. 
A)  In consideration of Joan's promising to marry him, a man promises to pay her an allowance and to give her all of his property upon his death. 
B)  John and Mary mutually agree that their marriage shall not affect the existing property rights of the other. 
C)  John and Joan mutually promise to marry each other in a formal ceremony on June 23. 
D)  Joan promises to release a money judgment against Steven in consideration of his marrying her.

Question 5

On March 1, Sara, a student, received a telephone call from ComputerChip, Inc. offering her a job for one year beginning on June 15, after completion of the school year. According to the personnel manager, she will have to move to California and be ready to start work at 8:00
A) Yes, because the job offer is a collateral promise
A)m. on June 15. Should Sara ask for a letter confirming the telephone conversation if she accepts the offer immediately?
B) Yes, because the job offer is covered by the parol evidence rule
C) Yes, because the job offer is for longer than one year from March 1
D) No, because the job offer is for one year from June 15

Accepted Answer

The answer of On March 1, Sara, a student, received...

Question 6

In order to be sufficient, an agreement required to be written under the statute of frauds must be signed at the bottom and notarized.

Accepted Answer

A) True 
 B)False

Question 7

Define the statute of frauds and give an example.

Accepted Answer

The statute of frauds is a law requiring

Question 8

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.

Accepted Answer

A) True 
 B)False

Question 9

To satisfy the statute of frauds, the person who wants to bring the lawsuit must sign a memorandum.

Accepted Answer

A) True 
 B)False

Question 10

A contract contains a provision that states it will be effective for a "year." The plaintiff in a lawsuit claims that a "year" is obviously 12 months. The defendant claims that the contract meant a 10-month school year. Parol evidence:

Accepted Answer

A)  cannot be used to explain the term, because the plain meaning of a "year" is 12 months. 
B)  cannot be used to explain the term, because it is an integrated document. 
C)  can be used to clarify the parties' intent because in this contract the term "year" is ambiguous. 
D)  cannot be used, because the contract contains an express term that could have been changed by the parties prior to the contract's execution. 
A)  cannot be used to explain the term, because the plain meaning of a "year" is 12 months. 
B)  cannot be used to explain the term, because it is an integrated document. 
C)  can be used to clarify the parties' intent because in this contract the term "year" is ambiguous. 
D)  cannot be used, because the contract contains an express term that could have been changed by the parties prior to the contract's execution.

Question 11

The statute of frauds does not prevent the performance of oral contracts if the parties are willing to perform.

Accepted Answer

A) True 
 B)False

Question 12

Jim promises to marry Cynda if she will buy him a new Ferrari for his birthday. This promise must be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 13

Explain what the parol evidence rule is and when it is used.

Accepted Answer

Parol evidence is oral or written eviden

Question 14

E-Sign provides consumers must:

Accepted Answer

A)  evidence their consent on paper to conducting transactions with electronic records after being informed of the types of hardware and software required. 
B)  receive a "clear and conspicuous" statement informing them of their right to withdraw consent to receiving electronic records. 
C)  receive a "clear and conspicuous" statement informing them of their right to have the record provided only in electronic form. 
D)  All of these. 
A)  evidence their consent on paper to conducting transactions with electronic records after being informed of the types of hardware and software required. 
B)  receive a "clear and conspicuous" statement informing them of their right to withdraw consent to receiving electronic records. 
C)  receive a "clear and conspicuous" statement informing them of their right to have the record provided only in electronic form. 
D)  All of these.

Question 15

Stan orally agreed to sell his house to Humphrey and Humphrey made a down payment. Humphrey wanted it ready for his family quickly, so he had a new roof put on, new carpeting installed, and renovated the kitchen. Stan now thinks the place looks great and has decided not to sell. A business law student told him he could refuse to sell because the agreement was oral. Can he? Explain.

Accepted Answer

In general, the statute of frauds would

Question 16

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.

Accepted Answer

A) True 
 B)False

Question 17

Under the parol evidence rule, which of the following types of evidence may be used to vary or contradict the written agreement?

Accepted Answer

A)  Prior oral or written agreements 
B)  Contemporaneous oral or written agreements 
C)  Subsequent oral or written agreements modifying the original agreement 
D)  None of these. 
A)  Prior oral or written agreements 
B)  Contemporaneous oral or written agreements 
C)  Subsequent oral or written agreements modifying the original agreement 
D)  None of these.

Question 18

The executor-administrator provision applies to promises of an executor of a decedent's will to the decedent's creditors.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)  The names of the parties to the contract 
B)  The signature of the party being sued 
C)  The signature of the party suing 
D)  The subject matter and essential terms of the unperformed promises 
A)  The names of the parties to the contract 
B)  The signature of the party being sued 
C)  The signature of the party suing 
D)  The subject matter and essential terms of the unperformed promises

Question 20

Under the Code an oral contract for specially manufactured goods costing $500 is enforceable even if the seller has not begun their manufacture.

Accepted Answer

A) True 
 B)False

Exam 15: Contracts in Writing

The parol evidence rule applies to partially written agreements.

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.

An example of language creating a suretyship as meant under the statute of frauds would be the following: "If my business partner does not write out the check for the supply bill for our company, I will."

Which of the following promises in consideration of marriage would be outside the statute of frauds?

In order to be sufficient, an agreement required to be written under the statute of frauds must be signed at the bottom and notarized.

Define the statute of frauds and give an example.

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.

To satisfy the statute of frauds, the person who wants to bring the lawsuit must sign a memorandum.

A contract contains a provision that states it will be effective for a "year." The plaintiff in a lawsuit claims that a "year" is obviously 12 months. The defendant claims that the contract meant a 10-month school year. Parol evidence:

The statute of frauds does not prevent the performance of oral contracts if the parties are willing to perform.

Jim promises to marry Cynda if she will buy him a new Ferrari for his birthday. This promise must be in writing to be enforceable.

Explain what the parol evidence rule is and when it is used.

E-Sign provides consumers must:

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.

Under the parol evidence rule, which of the following types of evidence may be used to vary or contradict the written agreement?

The executor-administrator provision applies to promises of an executor of a decedent's will to the decedent's creditors.

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

Under the Code an oral contract for specially manufactured goods costing $500 is enforceable even if the seller has not begun their manufacture.

Introduction to Law

Business Ethics and the Social Responsibility of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Intentional Torts

Negligence and Strict Liability

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remedies

Relationship of Principal and Agent

Relationship With Third Parties

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Products Liability: Warranties and Strict Liability in Tort

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature, Formation, and Powers

Financial Structure

Management Structure

Fundamental Changes

Secured Transactions and Suretyship

Bankruptcy

Protection of Intellectual Property

Antitrust

Consumer Protection

Employment Law

Securities Regulation

Accountants Legal Liability

Environmental Law

International Business Law

Introduction to Property, Property Insurance, Bailments, and Documents of Title

Interests in Real Property

Transfer and Control of Real Property

Trusts and Decedents Estates

the Legal Environment of Business

Contracts

Agency

Sales

Negotiable Instruments

Unincorporated Business Associations

Corporations

Debtor and Creditor Relations

Regulation of Business

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