Question 1

Oral evidence introduced after a contract is signed is legally accepted if it clarifies some point in the:

Accepted Answer

A)  oral agreement. 
B)  verbal agreement. 
C)  written agreement. 
D)  implied agreement. 
A)  oral agreement. 
B)  verbal agreement. 
C)  written agreement. 
D)  implied agreement. C

Question 2

All of the following are exceptions that apply to the parol evidence rule except:

Accepted Answer

A)  incomplete contracts. 
B)  void contracts. 
C)  contracts that are partly written and partly oral. 
D)  subsequent oral modifications. 
A)  incomplete contracts. 
B)  void contracts. 
C)  contracts that are partly written and partly oral. 
D)  subsequent oral modifications. B

Question 3

A memorandum must include all of the following to satisfy the Statute of Frauds, except the:

Accepted Answer

A)  family details of the parties. 
B)  names of the parties. 
C)  purpose of the agreement. 
D)  signatures of the parties. 
A)  family details of the parties. 
B)  names of the parties. 
C)  purpose of the agreement. 
D)  signatures of the parties. A

Question 4

Agreements by an executor or administrator to pay debts of a deceased person must be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 5

How is a sale completed if it is made by telephone?

Accepted Answer

In the case of auction bids ma

Question 6

A written contract or agreement that is sometimes called a_____ is required to satisfy the Statute of Frauds.

Accepted Answer

A)  draft. 
B)  brief. 
C)  synopsis. 
D)  memorandum. 
A)  draft. 
B)  brief. 
C)  synopsis. 
D)  memorandum.

Question 7

_______________ is one of the essential elements of a valid contract.

Accepted Answer

A)  Legality of purpose 
B)  Parol evidence 
C)  A reasonable claim 
D)  A memorandum of belief 
A)  Legality of purpose 
B)  Parol evidence 
C)  A reasonable claim 
D)  A memorandum of belief

Question 8

A(n)______ to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.

Accepted Answer

A)  guaranty 
B)  warranty 
C)  memorandum 
D)  statute 
A)  guaranty 
B)  warranty 
C)  memorandum 
D)  statute

Question 9

The Statute of Frauds applies only to:

Accepted Answer

A)  administrative contracts. 
B)  executory contracts. 
C)  business contracts. 
D)  notarized contracts. 
A)  administrative contracts. 
B)  executory contracts. 
C)  business contracts. 
D)  notarized contracts.

Question 10

Most important contracts are printed and signed by hand by the:

Accepted Answer

A)  parties to the agreement. 
B)  notary who is present. 
C)  attorney of the parties. 
D)  judges deciding on the contract. 
A)  parties to the agreement. 
B)  notary who is present. 
C)  attorney of the parties. 
D)  judges deciding on the contract.

Question 11

Sales of personal property in the amount of $5,000 or more must be in writing.

Accepted Answer

A) True 
 B)False

Question 12

Oral evidence introduced after a contract is signed may be legally accepted if it clarifies some point in a written agreement.

Accepted Answer

A) True 
 B)False

Question 13

To be enforceable, UCC agreements for the sale of personal property must be in writing if they are for at least:

Accepted Answer

A)  $100. 
B)  $200. 
C)  $500. 
D)  $1,000. 
A)  $100. 
B)  $200. 
C)  $500. 
D)  $1,000.

Question 14

A contract that obviously cannot be completed within one year may be oral.

Accepted Answer

A) True 
 B)False

Question 15

That certain kinds of contracts should be in writing is a requirement under the:

Accepted Answer

A)  Statute of Frauds. 
B)  Statute of Principles. 
C)  Statutes on Employment. 
D)  Statute on Discrimination. 
A)  Statute of Frauds. 
B)  Statute of Principles. 
C)  Statutes on Employment. 
D)  Statute on Discrimination.

Question 16

A(n) _____________ is a personal representative named by the court to perform as the executor would, in instances in which the deceased person has not left a will.

Accepted Answer

A)  judge 
B)  administrator 
C)  attorney 
D)  agent 
A)  judge 
B)  administrator 
C)  attorney 
D)  agent

Question 17

An executor is a person:

Accepted Answer

A)  who inherits property from a deceased person. 
B)  who has drafted the will of the deceased. 
C)  who is named by a court to judge matters of law. 
D)  named in a will who serves as the personal representative of a deceased person. 
A)  who inherits property from a deceased person. 
B)  who has drafted the will of the deceased. 
C)  who is named by a court to judge matters of law. 
D)  named in a will who serves as the personal representative of a deceased person.

Question 18

To be enforceable, agreements in contemplation of marriage:

Accepted Answer

A)  must be in writing and signed after the marriage. 
B)  must be in writing and signed before the marriage. 
C)  can be oral if the parties are both over the age of 21 years. 
D)  should be signed in the presence of witnesses. 
A)  must be in writing and signed after the marriage. 
B)  must be in writing and signed before the marriage. 
C)  can be oral if the parties are both over the age of 21 years. 
D)  should be signed in the presence of witnesses.

Question 19

The Statute of Frauds prohibits a person from legally entering into oral contracts for certain kinds of agreements.

Accepted Answer

A) True 
 B)False

Question 20

All of the following are true of the Statute of Frauds, EXCEPT:

Accepted Answer

A)  the name is taken from the English law of 1677. 
B)  the name is a derivative of a law called "An Act for Prevention of Frauds and Perjuries." 
C)  it does not prohibit a person from legally entering into oral contracts. 
D)  it applies to executory and executed contracts. 
A)  the name is taken from the English law of 1677. 
B)  the name is a derivative of a law called "An Act for Prevention of Frauds and Perjuries." 
C)  it does not prohibit a person from legally entering into oral contracts. 
D)  it applies to executory and executed contracts.

Exam 13: Form of Contracts

Oral evidence introduced after a contract is signed is legally accepted if it clarifies some point in the:

All of the following are exceptions that apply to the parol evidence rule except:

A memorandum must include all of the following to satisfy the Statute of Frauds, except the:

Agreements by an executor or administrator to pay debts of a deceased person must be in writing to be enforceable.

How is a sale completed if it is made by telephone?

A written contract or agreement that is sometimes called a_____ is required to satisfy the Statute of Frauds.

_______________ is one of the essential elements of a valid contract.

A(n)______ to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.

The Statute of Frauds applies only to:

Most important contracts are printed and signed by hand by the:

Sales of personal property in the amount of $5,000 or more must be in writing.

Oral evidence introduced after a contract is signed may be legally accepted if it clarifies some point in a written agreement.

To be enforceable, UCC agreements for the sale of personal property must be in writing if they are for at least:

A contract that obviously cannot be completed within one year may be oral.

That certain kinds of contracts should be in writing is a requirement under the:

A(n) _____________ is a personal representative named by the court to perform as the executor would, in instances in which the deceased person has not left a will.

An executor is a person:

To be enforceable, agreements in contemplation of marriage:

The Statute of Frauds prohibits a person from legally entering into oral contracts for certain kinds of agreements.

All of the following are true of the Statute of Frauds, EXCEPT:

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