Question 1

A[n] clause is one way parties can indicate their desire to create an integrated contract.

Accepted Answer

A) Merger 
B) Complete 
C) Bilateral 
D) Acknowledged 
E) Adhesion 
A) Merger 
B) Complete 
C) Bilateral 
D) Acknowledged 
E) Adhesion

Question 2

Which of the following statements is true about the statute of frauds and e-commerce?

Accepted Answer

A) The Uniform Electronic Transactions Act reflects the decision that particular electronic transactions may constitute a "written copy" and therefore have legal significance. 
B) The Uniform Electronic Transactions Act was adopted as law in only half of all states. 
C) The Uniform Electronic Transactions Act adopts the requirements of the statute of frauds regarding the validity of online transactions. 
D) Statutes that addressed electronic transactions have been around for years. 
E) The Uniform Electronic Transactions Act was passed in 2000. 
A) The Uniform Electronic Transactions Act reflects the decision that particular electronic transactions may constitute a "written copy" and therefore have legal significance. 
B) The Uniform Electronic Transactions Act was adopted as law in only half of all states. 
C) The Uniform Electronic Transactions Act adopts the requirements of the statute of frauds regarding the validity of online transactions. 
D) Statutes that addressed electronic transactions have been around for years. 
E) The Uniform Electronic Transactions Act was passed in 2000.

Question 3

Which of the following parties must sign a document coming within the statute of frauds?

Accepted Answer

A) The offeree only 
B) The party against whom action is sought 
C) Any party to the contract 
D) The offeror only 
E) Only a person who has agreed to pay the debt of another 
A) The offeree only 
B) The party against whom action is sought 
C) Any party to the contract 
D) The offeror only 
E) Only a person who has agreed to pay the debt of another

Question 4

Which of the following is an exception as to when a secondary obligation needs to be in writing?

Accepted Answer

A) The delineated rule 
B) The resulting-fact rule 
C) The main-purpose rule 
D) The personal-obligation standard 
E) The primary-purpose rule 
A) The delineated rule 
B) The resulting-fact rule 
C) The main-purpose rule 
D) The personal-obligation standard 
E) The primary-purpose rule

Question 5

Which of the following contracts would fall outside the statute of frauds and does not require a writing?

Accepted Answer

A) Lani offers to buy the corner of Ry's property where Ry's horse grazes. 
B) Lani offers to paint Ry's house for $1,000 
C) Lani offers to buy Ry's horse for $1,000. 
D) Lani offers to pay Ry's student loan if Ry defaults. 
E) Lani offers to marry Ry in three years. 
A) Lani offers to buy the corner of Ry's property where Ry's horse grazes. 
B) Lani offers to paint Ry's house for $1,000 
C) Lani offers to buy Ry's horse for $1,000. 
D) Lani offers to pay Ry's student loan if Ry defaults. 
E) Lani offers to marry Ry in three years.

Question 6

Which of the following was the result in the case in the text Sewing v.Bowman,involving the issue of whether an agreement to share in the profits of the land,such as appreciation in the value of the properties and rental income,came within the statute of frauds?

Accepted Answer

A) The court ruled that the agreement did involve an interest in land and,therefore came within the statute of frauds. 
B) The court ruled that the agreement to share in the appreciation of the value of the land did not fall within the statute of frauds and that no writing was needed,but that the agreement to share the rental income did fall within the statute of frauds requiring a writing. 
C) The court ruled that the land constituted an asset of the partnership,so the partnership agreement did not come within the statute of frauds. 
D) The court ruled that the agreement fell within the statute of frauds but that an oral agreement was sufficient. 
E) The court ruled that the agreement did not involve an interest in land but placed it within the statute of frauds in order to prevent injustice. 
A) The court ruled that the agreement did involve an interest in land and,therefore came within the statute of frauds. 
B) The court ruled that the agreement to share in the appreciation of the value of the land did not fall within the statute of frauds and that no writing was needed,but that the agreement to share the rental income did fall within the statute of frauds requiring a writing. 
C) The court ruled that the land constituted an asset of the partnership,so the partnership agreement did not come within the statute of frauds. 
D) The court ruled that the agreement fell within the statute of frauds but that an oral agreement was sufficient. 
E) The court ruled that the agreement did not involve an interest in land but placed it within the statute of frauds in order to prevent injustice.

Question 7

Which of the following involves the legal enforcement of an otherwise unenforceable contract due to a party's detrimental reliance on the contract?

Accepted Answer

A) Reliance rule 
B) Promissory reliance 
C) Promissory estoppel 
D) Promissory rule 
E) Substantial estoppel 
A) Reliance rule 
B) Promissory reliance 
C) Promissory estoppel 
D) Promissory rule 
E) Substantial estoppel

Question 8

The purpose of the parol evidence rule is to prevent attempts to use only oral evidence to prove agreements.

Accepted Answer

A) True 
 B)False

Question 9

Theo and Quincy live on adjacent properties on a tree-lined city street.Theo placed stepping stones at the edge of his property to walk from the front to the backyard.Quincy objects to the stepping stones,claiming they are placed partially on his property.Theo points to the cherry tree Quincy planted,claiming the tree was planted on Theo's property and thus the tree and the cherries belong to him.Theo then tells Quincy that,if Quincy agrees that the property under the stepping stones belongs to Theo,then Theo will agree that the property under the cherry tree belongs to Quincy.Quincy agrees.Is their oral agreement likely to be enforceable?

Accepted Answer

A) No,because it is a contract related to an interest in land and must be in writing. 
B) No,because the value is over $500. 
C) Yes,because it is a boundary dispute settled through the use of land. 
D) The agreement involving the property under the cherry tree must be in writing because the tree is part of the land,but the property under the stepping stones need not be in writing. 
E) Yes,because there was no money exchanged. 
A) No,because it is a contract related to an interest in land and must be in writing. 
B) No,because the value is over $500. 
C) Yes,because it is a boundary dispute settled through the use of land. 
D) The agreement involving the property under the cherry tree must be in writing because the tree is part of the land,but the property under the stepping stones need not be in writing. 
E) Yes,because there was no money exchanged.

Question 10

Under the Uniform Commercial Code,contracts for the sale of goods totaling more than ________ must be in writing.

Accepted Answer

A) $600 
B) $1,000 
C) $300 
D) $200 
E) $500 
A) $600 
B) $1,000 
C) $300 
D) $200 
E) $500

Exam 18: Contracts in Writing

A[n] clause is one way parties can indicate their desire to create an integrated contract.

Which of the following statements is true about the statute of frauds and e-commerce?

Which of the following parties must sign a document coming within the statute of frauds?

Which of the following is an exception as to when a secondary obligation needs to be in writing?

Which of the following contracts would fall outside the statute of frauds and does not require a writing?

Which of the following was the result in the case in the text Sewing v.Bowman,involving the issue of whether an agreement to share in the profits of the land,such as appreciation in the value of the properties and rental income,came within the statute of frauds?

Which of the following involves the legal enforcement of an otherwise unenforceable contract due to a party's detrimental reliance on the contract?

The purpose of the parol evidence rule is to prevent attempts to use only oral evidence to prove agreements.

Under the Uniform Commercial Code,contracts for the sale of goods totaling more than ________ must be in writing.

An Introduction to Dynamic Business Law

Business Ethics

The Uslegal System

Alternative Dispute Resolution

Constitutional Principles

International and Comparative Law

Crime and the Business Community

Tort Law

Negligence and Strict Liability

Product Liability

Liability of Accountants and Other Professionals

Intellectual Property

Introduction to Contracts

Agreement

Consideration

Capacity and Legality

Legal Assent

Third-Party Rights to Contracts

Discharge and Remedies

Introduction to Sales and Lease Contracts

Title,risk of Loss,and Insurable Interest

Performance and Obligations Under Sales and Leases

Remedies for Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments: Negotiability and Transferability

Negotiation, holder in Due Course, and Defenses

Liability, defenses, and Discharge

Checks and Electronic Fund Transfers

Secured Transactions

Other Creditors Remedies and Suretyship

Bankruptcy and Reorganization

Agency Formation and Duties

Liability to Third Parties and Termination

Forms of Business Organization

Partnerships: Nature, formation, and Operation

Partnerships: Termination and Limited Partnerships

Corporations: Formation and Financing

Corporations: Directors, officers, and Shareholders

Corporations: Mergers, consolidations, terminations

Corporations: Securities and Investor Protection

Employment and Labor Law

Employment Discrimination

Administrative Law

Consumer Law

Environmental Law

Antitrust Law

The Nature of Property, personal Property, and Bailments

Real Property

Landlord-Tenant Law

Insurance Law

Wills and Trusts

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