Exam 15: Contracts in Writing

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The English statute of frauds and the Code's provision differ in language but have the same basic legal effect: an oral contract for certain identified situations is void.

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(True/False)

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Question 1

Correct Answer:

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False

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

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(Multiple Choice)

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Question 2

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

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Question 3

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Parol evidence is oral or written evidence outside a written contract and not incorporated into it directly or by reference.When a contract is expressed in a writing that is intended to be the complete and final expression of the rights and duties of the parties, parol evidence of prior oral or written negotiations or agreements of the parties, or contemporaneous oral agreements that vary the written contract, are not admissible.The parol evidence rule is a rule of substantive law that defines the limits of a contract.

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?

(Multiple Choice)

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Question 4

The parol evidence rule is an exclusionary rule of evidence.

(True/False)

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Question 5

Chris receives a printed form in the mail from Wyandott Heating indicating that he has placed a telephone order for a $600 heater.He doesn't recall placing the order.Which of the following is correct?

(Multiple Choice)

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Question 6

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.

(True/False)

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Question 7

Brightstone Co.and Allsale Co.enter an oral contract providing Allsale will provide 100 dozen toys at $50 per dozen to Brightstone.Brightstone faxes a letter to Allsale acknowledging the agreement, but stating only the quantity, not the price.Allsale:

(Multiple Choice)

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Question 8

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

(Multiple Choice)

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Question 9

In states that have adopted it, the UETA:

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Question 10

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

(Multiple Choice)

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Question 11

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.

(True/False)

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Question 12

When a court interprets an ambiguous contract, usage of the trade will take precedence over express terms in the contract.

(True/False)

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Question 13

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

(True/False)

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Question 14

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

(Multiple Choice)

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Question 15

In order to induce a car dealer to sell her son a car on credit, Mary promises that she will pay for the son's car if the son defaults on his monthly payments to the dealership.Mary's promise must be in writing or have a sufficient electronic record.

(True/False)

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Question 16

A party to a contract that is unenforceable because of the statute of frauds may be able to recover in restitution the benefits conferred on the other party in reliance on the unenforceable contract.

(True/False)

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Question 17

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

(True/False)

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Question 18

The main purpose doctrine is an exception developed by the courts to the suretyship provision.

(True/False)

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Question 19

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.

(True/False)

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Question 20

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Exam 15: Contracts in Writing

The English statute of frauds and the Code's provision differ in language but have the same basic legal effect: an oral contract for certain identified situations is void.

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

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

The parol evidence rule is an exclusionary rule of evidence.

Chris receives a printed form in the mail from Wyandott Heating indicating that he has placed a telephone order for a $600 heater.He doesn't recall placing the order.Which of the following is correct?

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.

Brightstone Co.and Allsale Co.enter an oral contract providing Allsale will provide 100 dozen toys at $50 per dozen to Brightstone.Brightstone faxes a letter to Allsale acknowledging the agreement, but stating only the quantity, not the price.Allsale:

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

In states that have adopted it, the UETA:

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

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.

When a court interprets an ambiguous contract, usage of the trade will take precedence over express terms in the contract.

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

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

In order to induce a car dealer to sell her son a car on credit, Mary promises that she will pay for the son's car if the son defaults on his monthly payments to the dealership.Mary's promise must be in writing or have a sufficient electronic record.

A party to a contract that is unenforceable because of the statute of frauds may be able to recover in restitution the benefits conferred on the other party in reliance on the unenforceable contract.

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

The main purpose doctrine is an exception developed by the courts to the suretyship provision.

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.

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

51: The Legal Environment Of Business

52: Contracts.

53: Agency.

54: Sales

55: Negotiable Instruments

56: Unincorporated Business Association

57: Corporations

58: Debtor and Creditor Relation

59: Regulation of Business

60: Property.

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