Exam 10: Defenses to Contract Enforceability

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

Randy and Beach Biz Company enter into an oral contract under which Randy agrees to clean Beach Biz's office for two years.This contract is enforceable by

Forcing someone to enter into a contract through fear created by threats is undue influence.

Fact Pattern 10-1 Moore Properties, Inc., offers in writing to sell to Lawn Acres Development Corporation a certain half-acre of land for “$112,000.” After Lawn Acres signs the offer in acceptance and returns it, Moore discovers that the price should have been stated as “$121,000.” -Refer to Fact Pattern 10-1.Moore's misstatement of the price is

If a price quotation contains a mistake in the adding of a number of figures,the contract may not be enforceable.

Lara induces Moe to enter into a contract for the sale of an apartment about which Lara fraudulently misrepresents a number of material facts.Lara tells Moe that her commission is 6 percent,but their signed,written contract states "12 percent." The Statute of Frauds governs

An integrated contract is the final embodiment of the terms of an agreement.

Mary induces Nick to sign a contract by placing a gun to Nick's head.The contract is void

A mistake of fact can only be bilateral.

Misrepresentation of a material fact can occur through words alone.

Intent to deceive is an element of fraud.

To recover for fraud,a plaintiff must be under twenty-one years of age.

An innocent party may seek damages for a fraudulent contract.

May is a stockbroker.Due to May's statements,Nora believes that the price of OK Goods,Inc.(OKGI),a widely traded stock,is going to increase substantially.Nora buys 500 shares of OKGI at $10 per share,but the price soon drops to $2.Nora can successfully recover

An oral contract for a sale of land may be enforceable if the contract has been partially performed.

Oral evidence of the modification of a contract after its making can be introduced at a trial.

Steven,who is Bertha's guardian,convinces her to buy a certain parcel of land from Christy at a greatly inflated price.Steven may be liable for

All collateral promises must be in writing to be enforceable.

Used Car Lot's salesperson Vic offers to sell Will,who is twenty years of age,a car about which Vic intentionally misrepresents several material facts.In reliance on the misrepresentations,Will buys the car.To prove fraud in this transaction,Will would not have to show that

Nina and Owen enter into an oral contract for Nina's sale to Owen of a laser printer for $400.Before Owen takes possession of the printer,the contract is enforceable by