Question 1

A guaranty,or promise,to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.

Accepted Answer

A) True 
 B)False  True

Question 2

An executor is a person:

Accepted Answer

A)  who inherits property from a deceased person. 
B)  who has drafted the will of the deceased. 
C)  who is named by a court to judge matters of law. 
D)  named in a will who serves as the personal representative of a deceased person. 
A)  who inherits property from a deceased person. 
B)  who has drafted the will of the deceased. 
C)  who is named by a court to judge matters of law. 
D)  named in a will who serves as the personal representative of a deceased person. D

Question 3

In auction sales,in which goods are sold to the highest bidder,the sale is completed at the:

Accepted Answer

A)  fall of the hammer. 
B)  signing of an agreement. 
C)  time of delivery of goods. 
D)  end of the auction. 
A)  fall of the hammer. 
B)  signing of an agreement. 
C)  time of delivery of goods. 
D)  end of the auction. A

Question 4

Oral evidence introduced after a contract is signed is legally accepted if it clarifies some point in the:

Accepted Answer

A)  oral agreement. 
B)  verbal agreement. 
C)  written agreement. 
D)  implied agreement. 
A)  oral agreement. 
B)  verbal agreement. 
C)  written agreement. 
D)  implied agreement.

Question 5

It should be noted that antenuptial agreements often include a provision whereby they do not expire over an extended period of time.

Accepted Answer

A) True 
 B)False

Question 6

It is stated that the terms of a written contract may not be changed by evidence of any prior agreement but may be explained,or supplemented,in the:

Accepted Answer

A)  Uniform Commercial Code (UC
C) . 
B)  Statute of Frauds. 
C)  Parol Evidence Rule. 
D)  English Law. 
A)  Uniform Commercial Code (UC
C) . 
B)  Statute of Frauds. 
C)  Parol Evidence Rule. 
D)  English Law.

Question 7

Are prenuptial agreements enforceable? Explain why or why not.

Accepted Answer

An exchange of promises made by two indi

Question 8

How is a sale completed if it is made by telephone?

Accepted Answer

In the case of auction bids ma

Question 9

Any agreements to sell an interest in real property shall have to be:

Accepted Answer

A)  approved by a court-appointed judge. 
B)  in writing. 
C)  signed in the presence of an administrator. 
D)  oral or in writing to be enforceable. 
A)  approved by a court-appointed judge. 
B)  in writing. 
C)  signed in the presence of an administrator. 
D)  oral or in writing to be enforceable.

Question 10

A valid agreement should not be handwritten even if it is legible.

Accepted Answer

A) True 
 B)False

Question 11

To be enforceable,agreements that cannot be completed in less than one year:

Accepted Answer

A)  must be in writing. 
B)  can be oral. 
C)  can be oral only if witnessed. 
D)  must be oral if for an amount less than $500. 
A)  must be in writing. 
B)  can be oral. 
C)  can be oral only if witnessed. 
D)  must be oral if for an amount less than $500.

Question 12

A memorandum may not include the:

Accepted Answer

A)  family details of the parties. 
B)  names of the parties. 
C)  purpose of the agreement. 
D)  signatures of the parties. 
A)  family details of the parties. 
B)  names of the parties. 
C)  purpose of the agreement. 
D)  signatures of the parties.

Question 13

Agreements by an executor or administrator to pay debts of a deceased person must be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 14

The parol evidence rule states that any spoken or written words that are in conflict with what the written contract states cannot be introduced as evidence in a court of law.

Accepted Answer

A) True 
 B)False

Question 15

Most important contracts are printed and signed by hand by the:

Accepted Answer

A)  parties to the agreement. 
B)  notary who is present. 
C)  attorney of the parties. 
D)  judges deciding on the contract. 
A)  parties to the agreement. 
B)  notary who is present. 
C)  attorney of the parties. 
D)  judges deciding on the contract.

Question 16

The Statute of Frauds prohibits a person from legally entering into oral contracts for certain kinds of agreements.

Accepted Answer

A) True 
 B)False

Question 17

The Statute of Frauds only specifies that certain contracts must be in writing to be:

Accepted Answer

A)  beneficial. 
B)  rewarding. 
C)  indistinct. 
D)  enforceable. 
A)  beneficial. 
B)  rewarding. 
C)  indistinct. 
D)  enforceable.

Question 18

Give an example of a contract that does not need to be in writing.

Accepted Answer

Everyday transactions that can

Question 19

To be enforceable,agreements in contemplation of marriage:

Accepted Answer

A)  must be in writing and signed after the marriage. 
B)  must be in writing and signed before the marriage. 
C)  can be oral if the parties are both over the age of 21 years. 
D)  should be in the presence of witnesses. 
A)  must be in writing and signed after the marriage. 
B)  must be in writing and signed before the marriage. 
C)  can be oral if the parties are both over the age of 21 years. 
D)  should be in the presence of witnesses.

Question 20

The Statute of Frauds applies only to:

Accepted Answer

A)  administrative contracts. 
B)  executory contracts. 
C)  business contracts. 
D)  notarized contracts. 
A)  administrative contracts. 
B)  executory contracts. 
C)  business contracts. 
D)  notarized contracts.

Exam 13: Form of Contracts

A guaranty,or promise,to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.

An executor is a person:

In auction sales,in which goods are sold to the highest bidder,the sale is completed at the:

Oral evidence introduced after a contract is signed is legally accepted if it clarifies some point in the:

It should be noted that antenuptial agreements often include a provision whereby they do not expire over an extended period of time.

It is stated that the terms of a written contract may not be changed by evidence of any prior agreement but may be explained,or supplemented,in the:

Are prenuptial agreements enforceable? Explain why or why not.

How is a sale completed if it is made by telephone?

Any agreements to sell an interest in real property shall have to be:

A valid agreement should not be handwritten even if it is legible.

To be enforceable,agreements that cannot be completed in less than one year:

A memorandum may not include the:

Agreements by an executor or administrator to pay debts of a deceased person must be in writing to be enforceable.

The parol evidence rule states that any spoken or written words that are in conflict with what the written contract states cannot be introduced as evidence in a court of law.

Most important contracts are printed and signed by hand by the:

The Statute of Frauds prohibits a person from legally entering into oral contracts for certain kinds of agreements.

The Statute of Frauds only specifies that certain contracts must be in writing to be:

Give an example of a contract that does not need to be in writing.

To be enforceable,agreements in contemplation of marriage:

The Statute of Frauds applies only to:

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