Question 1

For the purposes of the statute of frauds,an interest in land includes

Accepted Answer

A) a long-term lease on an apartment. 
B) a real estate mortgage. 
C) an easement. 
D) All of the above. 
A) a long-term lease on an apartment. 
B) a real estate mortgage. 
C) an easement. 
D) All of the above.

Question 2

Derek and Abyan were discussing business over lunch when they agreed on the sale of a five-acre parcel of land.Since neither of them had any paper with them,Derek wrote the following on a napkin: "Abyan agrees to purchase from Derek a 5-acre parcel located at the local address of 123 105th Street,St.Joseph,Minnesota,U.S.A.for the price of $4,500 per acre.Transfer of title,payment,and possession to take place on May 1,2011." Abyan signed the napkin.On May 1,2011,Derek was ready to close the deal and transfer title but Abyan refused to pay the purchase price.If Derek sues Abyan for the price of the land,the most likely result will be:

Accepted Answer

A) Abyan will win because the writing is not sufficient under the statute of frauds. 
B) Derek will win because the writing is sufficient under the statute of frauds. 
C) Abyan will win because Derek did not sign the writing. 
D) Derek will win because the statute of frauds does not apply to this situation. 
A) Abyan will win because the writing is not sufficient under the statute of frauds. 
B) Derek will win because the writing is sufficient under the statute of frauds. 
C) Abyan will win because Derek did not sign the writing. 
D) Derek will win because the statute of frauds does not apply to this situation.

Question 3

Parol evidence refers to anything (other than the written contract itself)that was said,done,or written before or as the parties signed the contract.

Accepted Answer

A) True 
 B)False

Question 4

E-signatures are valid in all 50 states.

Accepted Answer

A) True 
 B)False

Question 5

Amy Hudson has been trying to purchase Glen Cappel's antique desk for some time,but Glen has been reluctant to sell.One evening Glen said to Amy,"Okay,I'll sell the desk for $550." Amy replied,"Thank you,Glen.I accept." The agreement was not reduced to writing,but Glen and Amy did shake hands.Two days later,Amy sent Glen a letter outlining the terms of the agreement,and stating that she would deliver $550 cash according to the agreement within ten days.The letter was signed,"Best regards,Amy." Later,Amy had second thoughts,and refused to go through with the purchase.Nothing had been exchanged at this point.Glen

Accepted Answer

A) can enforce the contract against Amy because the statute of frauds is satisfied under this situation. 
B) cannot enforce the contract against Amy because her signature was inadequate without her last name under the statute of frauds. 
C) cannot enforce the contract against Amy because he did not sign the letter. 
D) can enforce the contract because they shook hands on the agreement. 
A) can enforce the contract against Amy because the statute of frauds is satisfied under this situation. 
B) cannot enforce the contract against Amy because her signature was inadequate without her last name under the statute of frauds. 
C) cannot enforce the contract against Amy because he did not sign the letter. 
D) can enforce the contract because they shook hands on the agreement.

Exam 16: Written Contracts

For the purposes of the statute of frauds,an interest in land includes

Parol evidence refers to anything (other than the written contract itself)that was said,done,or written before or as the parties signed the contract.

E-signatures are valid in all 50 states.

Introduction to Law

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Introduction to Contracts

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Introduction to Sales

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