Exam 16: Written Contracts

When one person agrees to pay the debt of another as a favor to that debtor,it is called

Does the statement "The sale of goods will not be enforceable unless there is some writing,signed by the defendant,indicating that the parties reached an agreement" accurately reflect the UCC's basic rule?

List the types of agreements that are within the Statute of Frauds and explain the consequences if the parties do not comply with the requirements of the Statute of Frauds.

Tuan is president and sole shareholder of Entertainment,Inc.Entertainment,Inc.wishes to borrow money,but to do so,the bank requires Tuan to orally agree to personally pay the debt of the corporation if Entertainment,Inc.cannot.Tuan's guarantee to repay is

Rest Well Hotel orally ordered 1,000 blankets monogrammed with its initials,RWH,from TriColor Textiles.TriColor had just finished monogramming the blankets when Rest Well called and canceled the order.TriColor will be able to enforce the agreement even though there was no writing.

Under the merchants' exception rule of the UCC,within a reasonable time of making an oral contract,if a merchant sends a written confirmation to another,and if the confirmation is definite enough to bind the sender herself,then the merchant who receives the confirmation will also be bound by it unless he objects in writing within

Under the Statute of Frauds,the writing must: be signed by the defendant;and must state with reasonable certainty the name of each party,the subject matter of the agreement,and all of the essential terms and promises.

Which of the following promises ordinarily must be fully executed in writing to be enforceable?

Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half payable now as a down payment;one-half payable in 30 days at the time of closing when the title will be transferred.The buyer,Willis,is to have possession immediately.Willis pays Leslie $25,000,takes possession of the land,and starts building a house.At the time of closing,Willis has made a substantial beginning on the house.However,Leslie refuses to transfer the title,claiming the oral contract is not enforceable.This contract is

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.

Abby hires a contractor to make repairs on her house.Before the repairs are finished,Abby dies.Her good friend Clay is appointed executor of Abby's estate.Clay orally promised that if the estate could not pay the repair bill,he would pay it even though he does not live in the house and has no entitlement under Abby's estate.If the contractor's bill does not get paid,who can the contractor collect from,if anyone?

Patrick owned an acre of land which was being divided into building lots.Nancy was interested in purchasing the corner lot.In a signed writing,Patrick stated,"I will sell Nancy Grimes a lot on Route 70 for $5,500 cash,payable on April 30,2012." This writing is sufficient under the Statute of Frauds to make the contract enforceable.

Brahma entered into an oral agreement to sell 50 jet skis to Summer Sports.Brahma delivered 20 of the skis on May 1.On June 1,Summer Sports notified Brahma that it would not honor the agreement.Which statement is correct?

Christine agrees to marry Barry after he tells her he will buy her a brand-new Rolls Royce within a year of their marriage.After they are wed,Barry refuses to give her the car.What will happen if Christine sues Barry?

Herb was interviewed for a job on Wednesday.The employer orally offered Herb a job right on the spot.Herb orally agreed to start working the following Monday,to be employed from that Monday,for one year thereafter.Three weeks after starting the job Herb was fired without cause and replaced by the employer's friend.Will Herb be successful in an action brought against the employer for breach of contract? Explain why or why not.

Many states will not accept an e-signature on

When a contract falls within the Statute of Frauds but is not in writing,the contract is

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

Which of the following is a "special circumstance" in which an oral contract may be enforceable under the UCC?

The main difference between the UCC requirement for a writing for a contract for the sale of goods and the common law rule is that the