Question 1

There are no exceptions to the Statute of Frauds.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) a correct title,such as "Land Transfer" or "Real Estate Agreement." 
B) a declaration of the contract's purpose. 
C) a statement of the consideration. 
D) a description of the land. 
A) a correct title,such as "Land Transfer" or "Real Estate Agreement." 
B) a declaration of the contract's purpose. 
C) a statement of the consideration. 
D) a description of the land.

Question 3

Downspout Drainage Company hires Earl to design a Web page for Downspout for $400.Before the project is started,Downspout asks Earl to trouble-shoot Downspout's computer operating system software for an additional $400.Earl agrees.The en?tire contract is oral.Earl completes the work,but Downspout refuses to pay.Earl files a suit against Downspout,which raises the Statute of Frauds as a de?fense.Can Earl recover from Downspout? If so,how much,and on what basis?

Accepted Answer

Yes,Earl can recover from Downspout for

Question 4

Evidence of prior agreements that differ from the written terms of a con?tract can be introduced in court to alter the contract.

Accepted Answer

A) True 
 B)False

Question 5

To be enforceable,a contract for a sale of goods priced at $50 or more must be in writing.

Accepted Answer

A) True 
 B)False

Question 6

Fact Pattern 15-A1 
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.The transaction between Macro and NFC falls within the Statute of Frauds'

Accepted Answer

A) collateral-promise provision. 
B) one-year rule. 
C) sales-of-goods stipulation. 
D) secondary-contracts section. 
A) collateral-promise provision. 
B) one-year rule. 
C) sales-of-goods stipulation. 
D) secondary-contracts section.

Question 7

Niche Credit,Inc. ,is one of Cut-Rite Notching Corporation's two major creditors.Niche guarantees Cut-Rite's debt to the firm's other major creditor,Manufacturers Capital Bank,to forestall litigation.To be enforce?able,this guarantee

Accepted Answer

A) must be in writing. 
B) need not be in writing if it benefits Niche Credit. 
C) need not be in writing if it benefits Cut-Rite Notching. 
D) need not be in writing if it benefits Manufacturers Capital Bank. 
A) must be in writing. 
B) need not be in writing if it benefits Niche Credit. 
C) need not be in writing if it benefits Cut-Rite Notching. 
D) need not be in writing if it benefits Manufacturers Capital Bank.

Question 8

All collateral promises must be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 9

A contract that by its own terms cannot be performed within a year must be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 10

Parol evidence includes testimony of communications between the parties that is not contained in the contract itself.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) every term. 
B) the essential terms. 
C) the preliminary terms. 
D) the qualitative terms. 
A) every term. 
B) the essential terms. 
C) the preliminary terms. 
D) the qualitative terms.

Question 14

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

Accepted Answer

A) the doctrine of promissory estoppel. 
B) the "main purpose" exception. 
C) the "partial performance" exception. 
D) the Statute of Frauds. 
A) the doctrine of promissory estoppel. 
B) the "main purpose" exception. 
C) the "partial performance" exception. 
D) the Statute of Frauds.

Question 15

A contract must be in writing to be enforceable if performance is impossi?ble within one year.

Accepted Answer

A) True 
 B)False

Question 16

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?

Accepted Answer

This situation involves a contract for a

Question 17

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

Accepted Answer

A) more than $500. 
B) more than $5,000. 
C) more than $50,000. 
D) any amount. 
A) more than $500. 
B) more than $5,000. 
C) more than $50,000. 
D) any amount.

Question 18

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

Accepted Answer

A) Nori foreseeably and justifiably relied on Mica's promise to her detriment. 
B) Mica denies the existence of any contract. 
C) neither party has begun to perform. 
D) the deal does not involve customized goods. 
A) Nori foreseeably and justifiably relied on Mica's promise to her detriment. 
B) Mica denies the existence of any contract. 
C) neither party has begun to perform. 
D) the deal does not involve customized goods.

Question 19

Clay buys an MP3 player for $200 and a pair of stereo speakers for $600 from a Discount City store,and downloads $300 worth of digital music from E-Music.com.To be enforceable,the contract that must be in writing is the purchase of

Accepted Answer

A) the digital music,the MP3 player,and the speakers. 
B) the MP3 player and the speakers only. 
C) the MP3 player only. 
D) the speakers only. 
A) the digital music,the MP3 player,and the speakers. 
B) the MP3 player and the speakers only. 
C) the MP3 player only. 
D) the speakers only.

Question 20

Ginamarie files a suit against Gaming Innovators Unlimited,Inc. ,to enforce a written con?tract between the parties.If the court finds that the parties intended the contract to be the final statement of their agreement,parol evidence can be admitted to prove

Accepted Answer

A) an orally agreed-on condition precedent. 
B) terms discussed orally before the contract but not contained in it. 
C) terms discussed orally at the time of the contract that contradict the written terms. 
D) nothing. 
A) an orally agreed-on condition precedent. 
B) terms discussed orally before the contract but not contained in it. 
C) terms discussed orally at the time of the contract that contradict the written terms. 
D) nothing.

Exam 15: B: The Statute of Frauds

There are no exceptions to the Statute of Frauds.

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

Evidence of prior agreements that differ from the written terms of a con?tract can be introduced in court to alter the contract.

To be enforceable,a contract for a sale of goods priced at $50 or more must be in writing.

Niche Credit,Inc. ,is one of Cut-Rite Notching Corporation's two major creditors.Niche guarantees Cut-Rite's debt to the firm's other major creditor,Manufacturers Capital Bank,to forestall litigation.To be enforce?able,this guarantee

All collateral promises must be in writing to be enforceable.

A contract that by its own terms cannot be performed within a year must be in writing to be enforceable.

Parol evidence includes testimony of communications between the parties that is not contained in the contract itself.

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

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

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

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

A contract must be in writing to be enforceable if performance is impossi?ble within one year.

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

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

Clay buys an MP3 player for $200 and a pair of stereo speakers for $600 from a Discount City store,and downloads $300 worth of digital music from E-Music.com.To be enforceable,the contract that must be in writing is the purchase of

Ginamarie files a suit against Gaming Innovators Unlimited,Inc. ,to enforce a written con?tract between the parties.If the court finds that the parties intended the contract to be the final statement of their agreement,parol evidence can be admitted to prove

A: Introduction to Law and Legal Reasoning

B: Introduction to Law and Legal Reasoning

C: Introduction to Law and Legal Reasoning

D: Introduction to Law and Legal Reasoning

A: Courts and Alternative Dispute Resolution

B: Courts and Alternative Dispute Resolution

A: Court Procedures

B: Court Procedures

A: Constitutional Authority to Regulate Business

B: Constitutional Authority to Regulate Business

A: Ethics and Business Decision Making

B: Ethics and Business Decision Making

A: Intentional Torts and Privacy

B: Intentional Torts and Privacy

A: Negligence and Strict Liability

B: Negligence and Strict Liability

C: Negligence and Strict Liability

D: Negligence and Strict Liability

A: Intellectual Property and Internet Law

B: Intellectual Property and Internet Law

A: Criminal Law and Cyber Crimes

B: Criminal Law and Cyber Crime

A: Nature and Terminology

B: Nature and Terminology

C: Nature and Terminology

D: Nature and Terminology

A: Agreement in Traditional and E-Contracts

B: Agreement in Traditional and E-Contracts

A: Consideration

B: Consideration

A: Capacity and Legality

B: Capacity and Legality

A: Mistakes,fraud,and Voluntary Consent

B: Mistakes,fraud,and Voluntary Consent

A: The Statute of Frauds

A: Third Party Rights

B: Third Party Rights

A: Performance and Discharge

B: Performance and Discharge

A: Breach of Contract and Remedies

B: Breach of Contract and Remedies

A: The Formation of Sales and Lease Contracts

B: The Formation of Sales and Lease Contracts

C: The Formation of Sales and Lease Contracts

D: The Formation of Sales and Lease Contracts

A: Title,risk,and Insurable Interest

B: Title,risk,and Insurable Interest

A: Performance Breach of Sales Lease Contracts

B: Performance Breach of Sales Lease Contracts

A: Warranties and Product Liability

B: Warranties and Product Liability

A: International Law in a Global Economy

B: International Law in a Global Economy

A: The Function Creation of Negotiable Instruments

B: The Function Creation of Negotiable Instruments

C: The Function Creation of Negotiable Instruments

D: The Function Creation of Negotiable Instruments

A: Transferability and Holder in Due Course

B: Transferability and Holder in Due Course

A: Liability,defenses,and Discharge

B: Liability,defenses,and Discharge

A: Checks,the Banking System,and E-Money