Exam 11: Defenses to Contract Enforceability

Often,when both parties to a contract are mistaken as to the same material fact,either party can rescind the contract.

Under the Statute of Frauds,fixtures,such as buildings,growing crops and minerals,are treated as real property.

A contract must be in writing to be enforceable if it makes performance possible only over a period of more than one year.

For a party to a contract to receive relief from either a unilateral or a bilateral mistake,the mistake must involve a material fact.

Misrepresentation can occur through conduct.

Kathleen sells Richard a racehorse for $1,000.Both Kathleen and Richard think that the horse is too slow to win any races.Richard then enters the horse in a race,and it wins easily.He enters it in more races,and the horse soon wins more than $1 million.Kathleen tries to rescind the contract to sell the horse,claiming that it was worth more than $1,000.A court will

Punitive damages are meant to reward the defendant.

Valley Tack Shop signs a contract with Gary's Boots and Saddles for delivery of five saddles that cost $200 each.To be enforceable under the Statute of Frauds,the written contract must designate

Ted and Svetlana orally agree to several different oral contracts.The Statute of Frauds will bar enforcement of an oral contract for

An oral contract for a sale of goods for more than $5,000 is not enforceable even if the parties to it admit to its existence in court.

In some states,an otherwise unenforceable oral contract may be enforced under the doctrine of promissory estoppel.

A seller's failure to disclose a serious defect about a product for sale may give rise to an action for fraud.

Veggie Grocers orders by phone twenty cartons of canned beets from Organic Food Packers,Inc.After ten cartons are delivered and accepted,Veggie repudiates the contract.Organic can enforce the contract to

A fact is objective and verifiable.

Katie and Linda enter into a contract for Katie to buy Linda's house in which there are several terms that are subject to more than one reasonable interpretation.If Katie and Linda attach materially different meanings to a term

The primary purpose of the Statute of Frauds is to ensure that all parties to a contract understand all the terms of the contract.

A contract entered into under undue influence is voidable.

Seth offers to buy a house from Tia for less than Tia paid for it,stating that he would "hate to see anything bad happen to Tia or her house." Tia agrees to sell. Regarding this agreement,a court would likely

A contract is sometimes voidable if one party is aware that the other party made a mistake of fact.

An innocent party does not need to suffer an injury to collect damages as a result of a misrepresentation.