Exam 15: The Statute of Frauds

A contract involving property of any kind must be in writing to be enforceable.

Glenn and Haji sign a written contract.Glenn claims that the parties later orally agreed to modify it.Any oral modification is likely not enforceable if it falls under

Shady Oaks Development,LLC,and Rural Acres,Inc.,sign a writ?ten contract for a sale of land.In some states,to be enforceable,this con?tract must include

Fact Pattern 15-A1 (Questions A13-A14 apply) Macro Marketing,Inc.,and National Food Corporation (NFC)discuss the terms of a contract.Macro then faxes NFC a memo on Macro's letterhead that summarizes the items on which they agreed,including a two-year term.Macro begins to perform,but NFC refuses to pay.Macro files a suit to collect.NFC claims that there is no contract. -Refer to Fact Pattern 15-A1.Between Macro and NFC,there is

The Statute of Frauds requires that statutes must be in writing.

Lyra induces Moe to enter into a contract for the sale of an apartment about which Lyra fraudulently misrepresents a number of material facts.Lyra tells Moe that her commission is 6 percent,but their signed,written contract states "12 percent." The Statute of Frauds governs

All collateral promises must be in writing to be enforceable.

A party's oral agreement to pay another's debt is never enforceable.

Nori files a suit against Mica to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds.The court could enforce such a contract if

A contract involving a lease is the only contract relating to an interest in land that must be in writing to be enforceable.

To be enforceable,a memorandum evidencing an oral contract that would otherwise be unenforceable must include the essential terms.

Pablo and Melia enter into an oral contract for Pablo's sale to Melia of a laptop computer for $400.Assuming the terms can be proved,the con?tract is enforceable by

Natalie agrees to assume Orina's debt to Consumer Credit Corporation.Natalie does not get any personal benefit for the agreement.To be enforceable,the prom?ise must be in writing if the debt is for

An oral contract for a sale of land may be enforceable if the contract has been partially per?formed.

Uri and Vicky orally agree on the sale of Uri's Nite Club to Vicky and note terms on a pair of the Club's napkins,which they both sign.A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Frances has lived in an apartment for ten years when she decides to buy a house.Her one-year lease will end on May 1.On April 15,she orally con?tracts to buy Smith's house for $100,000,with the closing (transfer of the deed)to take place on June1.Smith's lawyer,who is out of town on vaca?tion,is to draft a written contract of sale on his return to his office on May 15.Because Frances's lease is terminating,Smith agrees to let her take possession of the house on May 1 if Frances gives him a "down payment" on the house of $5,000.Frances agrees and gives Smith the $5,000.She moves into the house on May 2,and the following weekend plants trees in the back yard.On May 10,Smith receives a written offer from Green to buy Smith's house for $120,000.Smith accepts Green's offer,asks Frances to move out of the house,and tries to return the $5,000 to Frances.Frances claims that she has an enforceable contract to buy the house.Smith claims that any such contract must be in writing to be en?forceable under the Statute of Frauds.Who is correct and why?

An integrated contract is a contract with more than one subject or part.

Elle buys a new textbook for $100 and a used car for $5,000,and signs a one-year lease for an apartment for $1,000 monthly rent to start at the beginning of the next month.The Statute of Frauds covers

Oral evidence to "fill in the gaps" of a contract with incomplete terms can be introduced at a trial.

If a contract to do something in certain intervals over a period of less than one year is not in writing,it is not enforceable.