Exam 12: Defenses to Contract Enforceability

A contract entered into under undue influence is voidable.

Under the Statute of Frauds, an oral contract for the transfer of a mortgage is enforceable.

Recycled Sales Company and Standard Purchasing Corporation enter into a contract for a sale of goods. To be enforceable, the contract should be in writing if the goods are valued at more than

A contract must be in writing to be enforceable if it makes performance possible only over a period of more than one year.

Often, when both parties to a contract are mistaken as to the same material fact, either party can rescind the contract.

Words or terms in contracts that are subject to more than one reasonable interpretation can lead to bilateral mistakes.

An oral contract for a transfer of land is always enforceable.

A unilateral mistake is a mistake made by both parties to a contract.

Veggie Grocers orders by phone twenty cartons of canned beets from Organic Food Packers, Inc. After ten cartons are delivered and accepted, Veggie repudiates the contract. Organic can enforce the contract to

A seller's failure to disclose a serious defect about a product for sale may give rise to an action for fraud.

The Statute of Frauds is a compilation of all the laws and regulations related to fraud.

A unilateral mistake always gives the mistaken party a right to relief from the contract.