Exam 13: Form and Meaning

Chrissle wishes to purchase on credit a coat at SM's Fine Furs. SM's thinks Chrissle's creditworthiness is somewhat shaky. So Chrissle's friend Mini promises SM's that if the store extends credit to Chrissle, Mini will pay whatever balance is due should Chrissle default. In which of the following is an oral agreement binding?

A contract term stating that the written agreement contains the parties' full understanding and intent is known as _____.

Under Section 2-202 of the UCC, _____.

Which of the following will be enforceable under UCC?

Explain the memorandum concerning the agreement of the statute's purpose to evidence the making of the contract according to the common law.

If an oral agreement is made to be performed within one year and if there is even a slight chance of carrying out the agreement completely within one year, the oral agreement would be enforceable.

Integrated contract is a customary way of doing business that may be used to inform parties' contractual intentions.

Usage of trade is a pattern of behavior between parties showing how they intend their relationship to work.

According to the part performance doctrine, acts taken in reliance are not necessary partial performances.

In Wilson Floors Co. v. Scotia Park, Ltd., and Unit, Inc., the court made a judgment based on the fact that the bank had no contractual duty to Wilson despite its oral guarantee according to the Statute of Frauds.

The parol evidence rule does not prevent a showing that a fact stated in a contract is untrue.

If an agreement contains several promises, the unenforceability of one does not necessarily render the others unenforceable.

The Statute of Frauds is a legislative intrusion into the common law of contracts.

A contract that remains wholly executory, even though enforceable because in writing, may be rescinded orally in most states.

Which of the following is true in oral rescission?

A person who promises to act or pay upon the default of another is known as an) _____.

According to the statute, which of the following is an exception to the Statute of Frauds written requirement?

Which of the following is an exception to the UCC's Statute of Frauds requirement?

In an oral contract to sell a land, the buyer has paid the purchase price. However, if the seller refuses to transfer title, the buyer may recover the purchase price.

Which of the following led the court to decide upon its judgment in the Wilson Floors Co. v. Scotia Park, Ltd., and Unit, Inc. case?