Question 1

The statute of frauds applies to executory contracts only.

Accepted Answer

A) True 
 B)False

Question 2

The UCC statute of frauds requires that the writing include all agreed-upon terms.

Accepted Answer

A) True 
 B)False

Question 3

The word "parol" literally means release.

Accepted Answer

A) True 
 B)False

Question 4

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

Question 5

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.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is true regarding noncompliance with the statute of frauds?

Accepted Answer

A)  The basic legal effect under the statute of frauds and the UCC differs. 
B)  The statute of frauds applies to executed and executory contracts. 
C)  A party to a contract which was unenforceable because of the statute of frauds but who relied upon the contract may recover in restitution the benefits he conferred on the other party. 
D)  The doctrine of promissory estoppel cannot displace the requirement of a writing under a statute of frauds. 
A)  The basic legal effect under the statute of frauds and the UCC differs. 
B)  The statute of frauds applies to executed and executory contracts. 
C)  A party to a contract which was unenforceable because of the statute of frauds but who relied upon the contract may recover in restitution the benefits he conferred on the other party. 
D)  The doctrine of promissory estoppel cannot displace the requirement of a writing under a statute of frauds.

Question 7

Under the Restatement and the Code, when can supplemental evidence be used with a written contract?

Accepted Answer

Although an integrated written agreement

Question 8

General contract law states that contracts that have to be in writing must:

Accepted Answer

A)  specify the parties to the contract. 
B)  specify the subject matter and essential terms. 
C)  be signed by the party to be charged or by his\her agent. 
D)  All of these. 
A)  specify the parties to the contract. 
B)  specify the subject matter and essential terms. 
C)  be signed by the party to be charged or by his\her agent. 
D)  All of these.

Question 9

An employment contract that is in any way capable of being performed within one year from the date of the agreement falls within the requirements of the statute of frauds.

Accepted Answer

A) True 
 B)False

Question 10

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 11

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

Accepted Answer

The text identifies eight situations in

Question 12

In which of the following cases will an oral contract for the sale of goods of $750 be enforceable without a writing?

Accepted Answer

A)  The goods are to be specially manufactured for the buyer and the seller has made a substantial beginning of their manufacture. 
B)  A party admits in an answer to a complaint in a lawsuit that the contract was made. 
C)  Delivery and acceptance of the goods has been made. 
D)  All of the above. 
A)  The goods are to be specially manufactured for the buyer and the seller has made a substantial beginning of their manufacture. 
B)  A party admits in an answer to a complaint in a lawsuit that the contract was made. 
C)  Delivery and acceptance of the goods has been made. 
D)  All of the above.

Question 13

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 14

The part performance exception to the land contract provision of the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.

Accepted Answer

A) True 
 B)False

Question 15

Under E-Sign, an electronic agent:

Accepted Answer

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

Question 16

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 17

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, Dwight 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, Dwight 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 18

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)  Jones's agreement with Smith to sell his condominium for $100,000. 
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)  Mindy's agreement with Susan to buy her bike for $400. 
A)  Jones's agreement with Smith to sell his condominium for $100,000. 
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)  Mindy's agreement with Susan to buy her bike for $400.

Question 19

The statute of frauds generally requires that both parties sign the writing.

Accepted Answer

A) True 
 B)False

Exam 15: Contracts in Writing

The statute of frauds applies to executory contracts only.

The UCC statute of frauds requires that the writing include all agreed-upon terms.

The word "parol" literally means release.

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

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.

Which of the following is true regarding noncompliance with the statute of frauds?

Under the Restatement and the Code, when can supplemental evidence be used with a written contract?

General contract law states that contracts that have to be in writing must:

An employment contract that is in any way capable of being performed within one year from the date of the agreement falls within the requirements of the statute of frauds.

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.

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

In which of the following cases will an oral contract for the sale of goods of $750 be enforceable without a writing?

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.

The part performance exception to the land contract provision of the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.

Under E-Sign, an electronic agent:

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

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 generally requires that both parties sign the writing.

Introduction to Law

Business Ethics

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

Introduction to Sales and Leases

Performance

Transfer of Title and Risk of Loss

Product Liability: Warranties and Strict Liability

Sales Remedies

Form and Content

Transfer and Holder in Due Course

Liability of Parties

Bank Deposits, Collections, and Funds Transfers

Relationship of Principal and Agent

Relationship With Third Parties

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 Corporations

Secured Transactions and Suretyship

Bankruptcy

Securities Regulation

Intellectual Property

Employment Law

Antitrust

Accountants Legal Liability

Consumer Protection

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

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