Deck 11: Written Contracts

Question 1

The Statute of Frauds does not apply when the promisor promises the debtor that the promisor will pay the debt owed to the third person.

Answer 1

True

Question 2

An advantage that written contracts have over an oral contracts is that they can be ascertained.

Answer 2

True

Question 3

Which of the following is true of the Statute of Frauds?

A) It is a law requiring certain contracts to be oral.
B) It applies only to executory contracts.
C) It does not require agreements concerning land to be in writing.
D) It requires agreements that involve taking the responsibility for the debts of another to be orally made.

Answer 3

B

Question 4

The Statute requires a written memorandum to contain all information on one piece of paper.

Question 5

Default refers to:

A) a breach of any contractual obligation.
B) an oral testimony to perform an obligation.
C) a written rule that may not be modified.
D) an obligation to pay money.

Question 6

Which of the following is a requirement made by the Statute of Frauds when a party sues to enforce an alleged contract?

A) A memorandum must be made at the time the contract is executed.
B) Any person who signs the memorandum must sign with the intention of being bound.
C) The contract must contain more essential terms of the contract than the memorandum.
D) A memorandum must be in existence at the time suit is brought.

Question 7

The parol evidence rule assumes that a written contract represents the complete agreement.

Question 8

The contract and the memorandum required by the Statute of Frauds must set forth all the material terms of the transaction.

Question 9

The Statute of Frauds recognizes electronic signatures as legally enforceable.

Question 10

What is the parol evidence rule? Explain.

Question 11

In some states, a joint contract is interpreted as being both joint and several.

Question 12

Which of the following types of agreements according to the Statute of Frauds need to be in writing?.

A) An agreement to sell goods for $499 or less
B) An agreement that does not involve taking responsibility for the debts of another
C) An agreement in which the terms can be performed within one year from the time it is made
D) An agreement containing a promise in consideration of marriage

Question 13

The Statute of Frauds' requirement of writing applies if the main purpose of the promise is to gain some advantage for the promisor.

Question 14

When a party sues to enforce an alleged contract, the Statute of Frauds requires that:

A) the contract be evidenced by signatures on paper and not electronic signatures.
B) the contract be evidenced by a writing signed by a maximum of one party.
C) there be a note in writing signed by the party against whom the claim for breach of contract is made.
D) the note required by the Statute of Frauds must set forth all the material terms of the transaction in case of the sale of goods.

Question 15

According to the Statute of Frauds, an agreement of an executor to pay the debts of the estate from the executor's personal funds, needs to be an oral contract.

Question 16

Parol evidence refers to:

A) a written memorandum.
B) spoken words.
C) a writ of certiorari.
D) a default.

Question 17

Which of the following is true of contracts?

A) All contracts need to be written in order to be enforceable.
B) An oral contract can be ascertained whereas a written contact cannot be ascertained.
C) Written evidence, composed in clear language, is more reliable than oral
D) All contracts of importance must be in oral form.

Question 18

The Statute of Frauds states that the memorandum must contain more essential terms than the written contract.

Question 19

A lease of real property for less than one year must be in writing in order to be binding.

Question 20

Which of the following is true of the parol evidence rule?

A) It allows a written contract to be modified by oral testimony if there is evidence of fraud.
B) It assumes that an oral contract represents the complete agreement.
C) It rules out oral testimony as a way to edit a written contract in any situation.
D) It involves making modifications to an oral testimony if there is proof of accident or error.