Exam 13: The Statute of Fraudswriting Requirement

Atlantic Applications, Inc., and Pacific Resale Company (PRC) enter into an oral contract for Atlantic's sale to PRC of six used forklifts for $1,900 each. Before PRC takes posses?sion of the items, this contract is enforce?able by

An oral contract for a sale of goods for more than $5,000 is not enforceable even if the parties to it admit to its existence in court.

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

Grain Farms, LLC, and Harvest-to-Market Truck & Transport Company sign a writ?ten con?tract that does not involve a sale of goods. To be enforceable, the writing must include

Valley Tack Shop signs a contract with Gary's Boots and Saddles for delivery of five saddles that cost $200 each. To be enforceable under the Statute of Frauds, the written contract must designate

A collateral promise is one made by a third party to assume the debts or obligation of a primary party to a contract if the primary party does not perform.

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

Marta buys a candy bar for $5 and signs a contract for delivery of fresh flowers to her mother's nursing home every week for the rest of her mother's life. She then enters into a contract to assume George's debt to FastCars Dealership. Marta receives no personal benefit from assuming George's debt. The Statute of Frauds covers

Hal's True Hardware Stores and Ideal Tools, Inc., sign a written con?tract for a sale of goods. To be enforceable, this written contract must include

Selena buys a cell phone for $350 and an air hockey table for $1,500, and signs a one-year employment contract for a $4,000 monthly salary to start at the beginning of the next month. The Statute of Frauds covers

On Monday, Merlin buys a tablet for $500 from a Pads & Pods store. On Tuesday, he returns to the store and buys a GPS device for $200. On Wednesday, he downloads $100 worth of tunes from singsong.com. To be enforceable, the contract must be in writing for the purchase of

Every state has a statute that stipulates what types of contracts must be in writing.

A primary obligation is created when a party agrees to pay for something on the condition that a certain other party does not make the payment.

Parol evidence includes testimony about communications between the parties that are not contained in the contract itself.

Oral evidence of otherwise clear terms in a contract can be introduced at a trial to contradict those terms.

Dixie May enters into a contract to buy one hundred pounds of pecans from Margaret. The contract must be in writing if the pecans cost

A contract involving property of any kind must be in writing to be enforceable.

Under the Statute of Frauds, oral contracts are void.

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

Evidence of prior agreements that differ from the written terms of a con?tract can be introduced in court to alter the contract.