Exam 11: Defenses to Contract Enforceability

Ilsa and Jiffy Loan Company enter into an oral contract under which Ilsa agrees to pay Kyle's debt if he does not.Ilsa does not get any per-sonal benefit from the agreement.This contract is enforceable by

A contract must be in writing to be enforceable if the contract makes per-formance possible within any definite period of time.

The Statute of Frauds is a compilation of all the laws and regulations related to fraud.

Byron agrees to sell to Charity,for $1,500,a remote parcel of land.They be-lieve the land to be worthless,but beneath it is a gold mine.A court would

Julie orally agrees to assume Carlyle's debt to FunGames,Inc.Julie gets a substantial personal benefit from the agreement-Carlyle agrees to work for Julie's landscaping service for six months.Julie's oral assumption of the debt is enforceable by

Scienter exists if a party makes a statement that he or she be-lievesto be scientifically verifiable.

A deceived person must have a justifiable reason for relying on a misrepresentation.

An oral con-tract for a transfer of land is always enforceable.

Miranda orally promises Nicky that she will buy his fishing trawler for $20,000.If Nicky acts in reliance on this promise,under the doctrine of promissory estoppel,the transaction is enforceable by

A unilateral mistake is a mistake made by both parties to a contract.

James is in an art gallery when Mitch,who has no special art expertise,points to a painting and says,"That artist is so good.That piece will be worth a fortune in a few years!" James buys the painting,which does not turn out to be valuable.James tries to return the painting and recover his purchase price.A court will

Jayne and Wilbur enter into an oral contract on May 1 under which Jayne agrees to deliver a collection of exotic wines by April 30 of the following year.This contract is enforceable by