Question 1

The statute of frauds requires all contracts that can be fully performed within one year of their making to be in writing.

Accepted Answer

A) True 
 B)False  False

Question 2

April, executrix of Hobbes' estate, promised Mr.Foxer in writing that she would personally pay one of Hobbes'  debts to Foxer Co.If April fails to pay, the written promise must be in existence at the time Foxer Co.initiates a lawsuit so the writing can be produced as evidence.

Accepted Answer

A) True 
 B)False  False

Question 3

What is another name for the main purpose doctrine?

Accepted Answer

A)  The possibility test. 
B)  The leading object rule. 
C)  The collateral promise rule. 
D)  The suretyship provision. 
A)  The possibility test. 
B)  The leading object rule. 
C)  The collateral promise rule. 
D)  The suretyship provision. B

Question 4

a.What are the basic requirements of a writing within the statute of frauds in Article 2 of the UCC? 
b.In what three cases does Article 2 of the UCC permit an oral contract?

Accepted Answer

a.Article 2 requires a writing in contra

Question 5

Although not covered by the original statute of frauds, most states have statutes requiring a writing to make all but which of the following contracts enforceable?

Accepted Answer

A)  A contract to make a will. 
B)  Contracts creating certain types of security interests. 
C)  Contracts for the sale of securities. 
D)  A contract authorizing an agent to sell real estate. 
A)  A contract to make a will. 
B)  Contracts creating certain types of security interests. 
C)  Contracts for the sale of securities. 
D)  A contract authorizing an agent to sell real estate.

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A)  Mindy's agreement with Susan to buy her bike for $400. 
B)  Stewart's promise to work for Austin for a two-year period. 
C)  Dad's promise to the credit union that he will make payments on his son's truck. 
D)  Jones's agreement with Smith to sell his condominium for $100,000. 
A)  Mindy's agreement with Susan to buy her bike for $400. 
B)  Stewart's promise to work for Austin for a two-year period. 
C)  Dad's promise to the credit union that he will make payments on his son's truck. 
D)  Jones's agreement with Smith to sell his condominium for $100,000.

Question 8

The statute of frauds applies to executory contracts only.

Accepted Answer

A) True 
 B)False

Question 9

Identify at least six situations in which the parol evidence rule does not apply.

Accepted Answer

The text identifies eight situations in

Question 10

A contract to pay for lawn care services costing $1,500 would have to be in writing or in proper electronic form to be enforceable.

Accepted Answer

A) True 
 B)False

Question 11

An example of an unenforceable oral contracts is:

Accepted Answer

A)  an oral promise to guarantee the additional duties of another. 
B)  an oral agreement to substitute different land for that described in the original lease contract. 
C)  an oral agreement to extend an employee's contract for six months to a total of two years. 
D)  All of these. 
E)  Two of these but not all three these examples. 
A)  an oral promise to guarantee the additional duties of another. 
B)  an oral agreement to substitute different land for that described in the original lease contract. 
C)  an oral agreement to extend an employee's contract for six months to a total of two years. 
D)  All of these. 
E)  Two of these but not all three these examples.

Question 12

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

Accepted Answer

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

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

Under E-Sign, an electronic agent:

Accepted Answer

A)  is an electronic sound, symbol, or process attached to or logically associated with a contract or other record. 
B)  is an individual who uses electronic means to initiate an action or respond to electronic records or performance. 
C)  is a computer program or other automated means used independently to initiate an action or respond to electronic records or performances. 
D)  may not form a contract without an individual's reviewing the terms. 
A)  is an electronic sound, symbol, or process attached to or logically associated with a contract or other record. 
B)  is an individual who uses electronic means to initiate an action or respond to electronic records or performance. 
C)  is a computer program or other automated means used independently to initiate an action or respond to electronic records or performances. 
D)  may not form a contract without an individual's reviewing the terms.

Question 15

Kelley borrows $3,000 from Paul and orally agrees to repay him in three annual installments.Most courts would hold:

Accepted Answer

A)  the oral contract is enforceable because Paul fully performed his obligation under the contract. 
B)  the oral contract is unenforceable because it cannot be performed within one year. 
C)  Article 2 of the UCC controls this loan. 
D)  the oral contract is enforceable only through the doctrine of promissory estoppel. 
A)  the oral contract is enforceable because Paul fully performed his obligation under the contract. 
B)  the oral contract is unenforceable because it cannot be performed within one year. 
C)  Article 2 of the UCC controls this loan. 
D)  the oral contract is enforceable only through the doctrine of promissory estoppel.

Question 16

Tom's bank is threatening to repossess his car.Tom's mother notifies the bank that she promises to pay the bank if Tom defaults on the loan.This promise must be in writing or have a sufficient electronic record to be enforceable.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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.

Accepted Answer

A) True 
 B)False

Question 19

On March 1, Tammy, a student, received a telephone call from Watterson, 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.m.on June 15.Should Tammy ask for a letter confirming the telephone conversation if she accepts the offer immediately?

Accepted Answer

A)  Yes, because the job offer is a collateral promise. 
B)  Yes, because the job offer is for longer than one year from March 1. 
C)  Yes, because the job offer is covered by the parol evidence rule. 
D)  No, because the job offer is for one year from June 15. 
A)  Yes, because the job offer is a collateral promise. 
B)  Yes, because the job offer is for longer than one year from March 1. 
C)  Yes, because the job offer is covered by the parol evidence rule. 
D)  No, because the job offer is for one year from June 15.

Question 20

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)  Contemporaneous oral or written agreements that change the contract. 
B)  Prior oral or written agreements. 
C)  Subsequent oral or written agreements modifying the original agreement. 
D)  Two of these but not all three. 
A)  Contemporaneous oral or written agreements that change the contract. 
B)  Prior oral or written agreements. 
C)  Subsequent oral or written agreements modifying the original agreement. 
D)  Two of these but not all three.

Exam 15: Contracts in Writing

The statute of frauds requires all contracts that can be fully performed within one year of their making to be in writing.

April, executrix of Hobbes' estate, promised Mr.Foxer in writing that she would personally pay one of Hobbes' debts to Foxer Co.If April fails to pay, the written promise must be in existence at the time Foxer Co.initiates a lawsuit so the writing can be produced as evidence.

What is another name for the main purpose doctrine?

a.What are the basic requirements of a writing within the statute of frauds in Article 2 of the UCC? b.In what three cases does Article 2 of the UCC permit an oral contract?

Although not covered by the original statute of frauds, most states have statutes requiring a writing to make all but which of the following contracts enforceable?

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

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

The statute of frauds applies to executory contracts only.

Identify at least six situations in which the parol evidence rule does not apply.

A contract to pay for lawn care services costing $1,500 would have to be in writing or in proper electronic form to be enforceable.

An example of an unenforceable oral contracts is:

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

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

Under E-Sign, an electronic agent:

Kelley borrows $3,000 from Paul and orally agrees to repay him in three annual installments.Most courts would hold:

Tom's bank is threatening to repossess his car.Tom's mother notifies the bank that she promises to pay the bank if Tom defaults on the loan.This promise must be in writing or have a sufficient electronic record to be enforceable.

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

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.

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

Introduction to Law

Business Ethicspart Ii: the Legal Environment of Business

Civil Dispute Resolution

Constitutional Law

Administrative Law

Criminal Law

Negligence and Strict Liabilitypart Iii: Contracts

Introduction to Contracts

Mutual Assent

Conduct Invalidating Assent

Consideration

Illegal Bargains

Contractual Capacity

Third Parties to Contracts

Performance, Breach, and Discharge

Contract Remediespart Iv: Sales

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remediespart V: Negotiable Instruments

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transferspart Vi: Agency

Relationship of Principal and Agent

Relationship With Third Partiespart Vii: Business Associations

Formation and Internal Relations of General Partnerships

Operation and Dissolution of General Partnerships

Limited Partnerships and Limited Liability Companies

Nature and Formation of Corporations

Financial Structure of Corporations

Management Structure of Corporations

Fundamental Changes of Corporationspart Viii: Debtor and Creditor Relations

Secured Transactions and Suretyship

Bankruptcypart Ix: Regulation of Business

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

International Business Lawpart X: Property

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

Interests in Real Property

Transfer and Control of Real Property

Trusts and Wills

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