Exam 15: Contracts in Writing

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.

Which of the following promises does not have to be evidenced by writing in order to be enforceable?

The statute enacted by Congress which makes electronic records and signatures valid and enforceable for many transactions affecting interstate or foreign commerce is the:

E-Sign provides consumers must:

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.

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

Which of the following would not be subject to the writing requirements of Article 2 of the UCC?

The statute of frauds has to do with fraud in the inducement of a contract.

Which of the following would be admissible under the parol evidence rule? Assume the written contract was made on June 1, 2010, and that it is an integrated document.

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

The parol evidence rule applies to partially written agreements.

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

Define the statute of frauds and give an example.

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

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

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.

The suretyship provision has been interpreted to include promises made to a debtor.

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

The parol evidence rule does not apply to:

The computation of time for the one-year provision of the statute of frauds starts when the agreement is made, not when the performance is to begin.