Exam 15: Contracts in Writing

The part performance exception to the land contract provision of the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.

The statute of frauds applies to executory contracts only.

In interpreting a contract, terms which have been separately negotiated are given priority over standardized pre-printed terms.

The UCC statute of frauds requires that the writing include all agreed-upon terms.

Under the UCC parol evidence rule, usage of trade will take priority over specific provisions in a written contract.

Would a letter written after the execution of a contract and which contained agreements different from those in the written contract be admissible under the parol evidence rule?

In which of the following cases would an oral contract be enforceable without a written memorandum?

The UCC requires that all contracts for the sale of goods must be in writing or in proper electronic form.

Abco Corp. is building a new office tower. Ace Plumbing Supplies refuses to provide plumbing materials on credit to the plumbing subcontractor on the building. Abco promises Ace that it will pay for the materials if the subcontractor does not. Abco's oral promise is enforceable.

a. What are the basic requirements of a writing within the statute of frauds in Article 2 of the UCC? b. In what three cases does Article 2 of the UCC permit an oral contract?

Under the parol evidence rule, which of the following types of evidence may be used to vary or contradict the written agreement?

Jim promises to marry Cynda if Cynda will buy him a new Ferrari for his birthday. If this promise is made orally, it is not enforceable.

June, executrix of Calvin's estate, promised Mr. Wentworth in writing that she would personally pay one of Calvin's debts to Wentworth Co. If June fails to pay, the written promise must be in existence at the time Wentworth Co. initiates a lawsuit so the writing can be produced as evidence.

A number of courts have used the doctrine of promissory estoppel to displace the requirement of a writing by enforcing oral contracts within the statute of frauds.

Which of the following is an exception to the suretyship provision requirement under the statute of frauds?

A usage of trade is a practice or method of dealing regularly observed and followed in a place, vocation, or trade.

The Uniform Electronic Transactions Act, which has been adopted by all of the states and the District of Columbia, gives full effect to electronic contracts and develops a uniform legal framework for their implementation.

The suretyship provision has been interpreted to include promises made to a debtor.

Bob sends Fred a letter offering to sell Fred his car for $2,500. Fred writes back that he'll take it. They now must get together and write a memorandum because it is a sale of goods for over $500.

The main purpose doctrine is a court-developed exception to the suretyship provision.