Exam 16: The Form and Meaning of Contracts

If an oral contract has been declared unenforceable under the statute of frauds, yet one of the parties has rendered some performance under the contract that conferred benefits on the other party, he or she can recover the reasonable value of the performance in _____.

Terry and Farah have an oral contract for the sale of 100 books at $30 per book. If Terry delivers the books and Farah accepts them, or if Farah pays for the books and Terry accepts payment, which of the following is true?

The statutes of frauds adopted by the states are patterned after the original statute of frauds adopted in Germany in 1787.

In some cases, part performance of a contract for the sale of land takes the contract out of the coverage of the statute of frauds.

Explain the relationship between the parol evidence rule and ambiguous contracts.

Oral evidence can be introduced to help a court resolve ambiguities in a written contract.

If the writing in a contract is clearly incomplete, a party can introduce proof of consistent oral terms that "fill the gaps" in the writing.

Which of the following is true about the exception to the parol evidence rule?

If an oral contract is declared to be unenforceable under the statute of frauds and one of the parties has rendered some performance under the contract that conferred benefits on the other party, he or she can recover the reasonable value of the performance on an express contract theory.

Under the Uniform Electronic Transactions Act (UETA), _____.

According to the leading object doctrine, promises of third parties to a contract who are primarily motivated by a desire to secure some personal benefit:

Which of the following is a basic Code writing requirement for contracts?

List the classes of contracts traditionally required to be in writing by the statute of frauds.

Describe the effect of a failure to comply with the statute of frauds.

The parol evidence rule says that a party can vary the terms of a written contract by introducing evidence of terms allegedly agreed on prior to, or contemporaneous with writing.

Miriam makes an oral agreement with John to sell him 200 acres of prime farmland for a mere $500. Their agreement is:

In most states, the statute of frauds makes oral contracts that come within its provisions _____.

In an executory bilateral contract, most courts hold that:

The parol evidence rule:

Leroy writes a letter that says, "I agree to sell to Jay five modern art paintings," and he signs the letter. Jay is an art dealer and he receives this writing from Leroy and does not object in writing within 10 days of receiving it. Which of the following is true according to the Uniform Commercial Code?