Exam 14: The Statute of Fraudswriting Requirement

Under the Statute of Frauds,all contracts induced by fraud must be in writing to be enforceable.

To be enforceable,a writing evidencing an oral contract that would otherwise be unenforceable must be signed by the party who seeks to enforce it.

Chloe files a suit against Digital Consultants,Inc.(DCI),to enforce a contract.The only written evidence of the contract is a memo in DCI's files written on DCI's letterhead and signed by a DCI officer.The contract can be enforced if the memo includes

Crestview Properties.Inc.,and Deft Investment Corporation enter into a contract for a sale of land.To be enforceable,the contract must be in writing if the land is valued at

An oral contract for a sale of goods priced at $499.99 must be in writing to be enforceable.

An integrated contract is a contract with more than one subject or part.

Fact Pattern 14-1 (Questions 26-27 apply) Macho Marketing, Inc., and Nacho Food Corporation (NFC) discuss the terms of a contract. Macho faxes NFC a memo on Macho’s letterhead that summarizes the items on which they agree, including a two-year term. NFC begins to perform, but Macho refuses to pay. NFC begins to perform, but Macro refuses to pay. -Refer to Fact Pattern 14-1.The transaction between Macho and NFC falls within the Statute of Frauds'

Cody and Debora enter into an oral contract under which Cody agrees to work on Debora's ranch for not less than ten days.This contract is enforceable by

A party's oral agreement to pay another's debt is never enforceable.

A party's oral agreement to pay another's debt is enforceable if the party's main purpose is to derive a benefit for himself or herself.

All collateral promises must be in writing to be enforceable.

Oral evidence of the meaning of a contract with incomplete terms can be introduced at a trial.

Ginamarie files a suit against Gaming Innovators Unlimited,Inc.,to enforce a written contract between the parties.If the court finds that the parties intended the contract to be the final statement of their agreement,parol evidence can be admitted to prove

Garden & Yard Landscaping enters into an oral contract with Penelope under which she agrees to work on a Garden & Yard project on Valley Country Club's golf course for sixteen months.The contract is enforceable by

A contract does not need to be in writing to be enforceable if its performance is possible within any definite period of time.

Under the Statute of Frauds,all written contracts are enforceable.

Ollie buys a cup of coffee for $2,a magazine for $5,and a cellphone for $600.The requirement of a writing for the enforceability of a contract for a sale of goods at a certain price or more is governed by

Reel Graphics,Inc.,agrees to assume a debt of Suave Marketing Company to Town Credit Union.This promise is for Reel's benefit.To be enforceable,the promise

Under the Statute of Frauds,oral contracts are void.

Frances has lived in an apartment for ten years when she decides to buy a house.Her one-year lease will end on May 1.On April 15,she orally contracts to buy Smith's house for $100,000,with the closing (transfer of the deed)to take place on June1.Smith's lawyer,who is out of town on vacation,is to draft a written contract of sale on his return to his office on May 15.Because Frances's lease is terminating,Smith agrees to let her take possession of the house on May 1 if Frances gives him a "down payment" on the house of $5,000.Frances agrees and gives Smith the $5,000.She moves into the house on May 2,and the following weekend plants trees in the back yard.On May 10,Smith receives a written offer from Green to buy Smith's house for $120,000.Smith accepts Green's offer,asks Frances to move out of the house,and tries to return the $5,000 to Frances.Frances claims that she has an enforceable contract to buy the house.Smith claims that any such contract must be in writing to be enforceable under the Statute of Frauds.Who is correct and why