Exam 16: The Form and Meaning of Contracts

Which of the following is true of the parol evidence rule?

A clothing store has opened a credit account in which Judy,a college student,gets Alice,her older sister,to agree to pay the amount owed on the account if Judy fails to do so.Which of the following statements is true of this scenario?

What kind of writing is required under the statute of frauds?

The U.N.Convention on the International Sale of Goods has decided that a writing is:

In most states,the statute of frauds makes oral contracts that come within its provisions _____.

For the requirement that certain types of contracts must be in writing,promissory estoppel is an exception to:

According to the Uniform Commercial Code (UCC),_____.

Terry and Farah have an oral contract for the sale of 100 books at $30 per book.If Terry delivers the books and Farah accepts them,or if Farah pays for the books and Terry accepts payment,which of the following is true?

A person's promise made on an original contract is identical to the promise a third party makes on a guaranty contract.

Fernando is the owner of Pick Food Restaurant.He makes an oral agreement with Purple Lotus Works for the design and production of 5,000 unique custom-made dinner plates with the logo of Pick Food Restaurant on them.Purple Lotus reworks its production schedule and creates dies to add Pick Food Restaurant's logo in the designer plates.A week later,Fernando calls Purple Lotus and says that he no longer wants the plates and calls off the deal.In this scenario,it is most likely that:

An oral contract may be enforceable if promissory estoppel applies.

If an oral contract has been declared unenforceable under the statute of frauds,yet one of the parties has rendered some performance under the contract that conferred benefits on the other party,he or she can recover the reasonable value of the performance in _____.

In an insurance contract,if one of the two parties involved drafted a contract,_____.

Under the parol evidence rule,parties cannot vary the terms of a(n):

If the writing in a contract is clearly incomplete,a party can introduce proof of consistent oral terms that "fill the gaps" in the writing.

The equitable doctrine of _____ allows some parties to recover under oral contracts that the statute of frauds would have ordinarily rendered unenforceable.

Leroy writes a letter that says,"I agree to sell to Jay five modern art paintings," and he signs the letter.Jay is an art dealer and he receives this writing from Leroy and does not object in writing within 10 days of receiving it.Which of the following is true according to the Uniform Commercial Code?

Under the Electronic Signatures in Global and National Commerce Act,digital signatures are given the same effect as one written in ink on paper.

The parol evidence rule says that a party can vary the terms of a written contract by introducing evidence of terms allegedly agreed on prior to,or contemporaneous with writing.

Under the Uniform Electronic Transactions Act (UETA),_____.