Question 1

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

Accepted Answer

A) True 
 B)False  False

Question 2

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

Accepted Answer

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. 
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. C

Question 3

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

Accepted Answer

A) True 
 B)False  False

Question 4

Parol evidence refers to: ​

Accepted Answer

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

Question 5

​ What is the Statute of Frauds?

Accepted Answer

A) It is a law requiring certain contracts to be oral. 
B) It is a law requiring certain contracts to be put in writing. 
C) It is a law prohibiting both active and passive fraud. 
D) It is a law prohibiting contracts made under duress. 
A) It is a law requiring certain contracts to be oral. 
B) It is a law requiring certain contracts to be put in writing. 
C) It is a law prohibiting both active and passive fraud. 
D) It is a law prohibiting contracts made under duress.

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Every state has an identical list of types of contracts required by law to be in writing in order to be enforceable. ​

Accepted Answer

A) True 
 B)False

Question 8

​ Default refers to:

Accepted Answer

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. 
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 9

Which of the following is an advantage of a written contract over an oral one?

Accepted Answer

A) Written contracts are always enforceable. 
B) The existence of a contract cannot be denied if it is in writing. 
C) All contracts of importance must be in written form. 
D) Putting a contract in writing eliminates all mistakes. 
A) Written contracts are always enforceable. 
B) The existence of a contract cannot be denied if it is in writing. 
C) All contracts of importance must be in written form. 
D) Putting a contract in writing eliminates all mistakes.

Question 10

​ Courts will always permit spoken words to add to or modify the terms of a written contract that appears to be complete.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following constitutes an exception to the Statute of Frauds requirement that a contract be in writing?

Accepted Answer

A) The promise to pay one's own debt, rather than a promise to pay the debt or another 
B) An executor contracting to pay the debts of a deceased person's estate from his or her personal funds 
C) An agreement the terms of which cannot be performed within one year from the time it is made 
D) An agreement to sell land 
A) The promise to pay one's own debt, rather than a promise to pay the debt or another 
B) An executor contracting to pay the debts of a deceased person's estate from his or her personal funds 
C) An agreement the terms of which cannot be performed within one year from the time it is made 
D) An agreement to sell land

Question 12

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

Accepted Answer

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. 
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.

Question 13

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

Accepted Answer

A) An agreement to sell goods for $499 or less 
B) An agreement to rent an apartment for one month 
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 
A) An agreement to sell goods for $499 or less 
B) An agreement to rent an apartment for one month 
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 14

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

Accepted Answer

A) True 
 B)False

Question 15

According to the Statute of Frauds, an agreement to sell goods for $500 or more must be in writing. ​

Accepted Answer

A) True 
 B)False

Question 16

The Statute of Frauds recognizes electronic signatures as legally enforceable. ​

Accepted Answer

A) True 
 B)False

Question 17

All contracts must be in writing to be enforceable. ​

Accepted Answer

A) True 
 B)False

Question 18

​ Under the Statute of Frauds, a written note or memorandum may suffice if it is signed by the party against whom the claim for breach of contract is made.

Accepted Answer

A) True 
 B)False

Question 19

What is the parol evidence rule? Explain. ​

Accepted Answer

The parol evidence rule states that a co

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 11: Written Contracts

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

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

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

Parol evidence refers to: ​

​ What is the Statute of Frauds?

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

Every state has an identical list of types of contracts required by law to be in writing in order to be enforceable. ​

​ Default refers to:

Which of the following is an advantage of a written contract over an oral one?

​ Courts will always permit spoken words to add to or modify the terms of a written contract that appears to be complete.

Which of the following constitutes an exception to the Statute of Frauds requirement that a contract be in writing?

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

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

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

According to the Statute of Frauds, an agreement to sell goods for $500 or more must be in writing. ​

The Statute of Frauds recognizes electronic signatures as legally enforceable. ​

All contracts must be in writing to be enforceable. ​

​ Under the Statute of Frauds, a written note or memorandum may suffice if it is signed by the party against whom the claim for breach of contract is made.

What is the parol evidence rule? Explain. ​

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

Introduction to Law

Courts and Court Procedures

Business Torts and Crimes

Government Regulation of Business

Nature and Classes of Contracts

Offer and Acceptance

Capacity to Contract

Consideration

Defective Agreements

Illegal Agreements

Third Parties and Contracts

Termination of Contracts

Nature of Personal Property

Special Bailments

Sales of Personal Property

Formalities of a Sale

Transfer of Title and Risk in Sales Contracts

Warranties Product Liability and Consumer Protection

Nature of Negotiable Instruments

Essentials of Negotiability

Promissory Notes and Drafts

Negotiation and Discharge

Liabilities of Parties, Holders in Due Course and Defenses

Nature and Creation of an Agency

Operation and Termination of an Agency

Employer and Employee Relations

Employees Rights

Introduction to Business Organizations

Creation and Operation of a Partnership

Dissolution of a Partnership

Nature of a Corporation

Ownership of a Corporation

Management and Dissolution of a Corporation

Principles of Insurance

Types of Insurance

Security Devices

Bankruptcy

Nature of Real Property

Transfer of Real Property

Real Estate Mortgages

Landlord and Tenant

Wills Inheritances and Trust

Filters

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

Parol evidence refers to:

What is the Statute of Frauds?

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

Every state has an identical list of types of contracts required by law to be in writing in order to be enforceable.

Default refers to:

Courts will always permit spoken words to add to or modify the terms of a written contract that appears to be complete.

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

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

According to the Statute of Frauds, an agreement to sell goods for $500 or more must be in writing.

The Statute of Frauds recognizes electronic signatures as legally enforceable.

All contracts must be in writing to be enforceable.

Under the Statute of Frauds, a written note or memorandum may suffice if it is signed by the party against whom the claim for breach of contract is made.

What is the parol evidence rule? Explain.

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