Ch. 15

Question 0

Statute of Frauds

Answer 0

Requires that certain types of contracts be evidenced in writing to be enforceable

Question 1

An _____ contract is as enforceable as a written contract unless otherwise provided by _____.

Answer 1

Oral; statute

Question 2

Electronic Signatures in Global & National Commerce (E-Sign)

Answer 2

Makes electronic records & signatures valid and enforceable across the U.S. for many types of transactions

Question 4

Suretyship Provision

Answer 4

Applies to a contractual promise by a surety (promisor) to a creditor (promisee) to perform the duties or obligations of a third person, the principal debtor, if he does not perform.

Question 5

If the promisor makes an _______ _______ by undertaking to become primarily liable, then the statute, then the statute of frauds does not apply.

Answer 5

Original promise

Question 6

In cases in which the _______ _______ of the promisor is to obtain economic benefit for herself that she did not previously have, then the promise comes within the exception and is ______ the statute.

Answer 6

Main purpose; outside

Question 7

Executor-Administrator Provision

Answer 7

Applies to the promises of an executor of a decedent’s will to answer personally for a duty of the decedent

Question 8

Executor or Administrator

Answer 8

A person appointed by a court to carry out, subject to order of court, the administration of the estate of a deceased person.

Question 9

The land contract provision covers promises to transfer any _______ __ _______.

Answer 9

Interest in land

Question 10

Collateral Promise

Answer 10

The promisor is not primarily liable.

Question 11

Possibility Test

Answer 11

To determine whether a contract falls within the one-year provision, the courts ask whether it is possible for the performance of the contract to be completed within a year.

Question 12

Interest in Land

Answer 12

Includes any right, privilege, power, or immunity in real property

Question 13

Integrated Contract

Answer 13

Contained in a certain writing to which the parties have assented as being the statement of the complete & exclusive contract between them

Question 14

The parol evidence rule applies only to an _______ _______.

Answer 14

Ingrained contract

Question 15

Course of Dealing

Answer 15

Previous conduct between the parties that a court may use for interpreting their expressions and other conduct

Question 16

Usage of Trade

Answer 16

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

Question 17

Course of Performance

Answer 17

The manner & extent to which the parties to a contract have accepted without objection successive tenders of performance by the other party

Question 18

A written contract may be explained or supplemented by 4 things:

Answer 18

1. ) Course of dealing
2. ) Usage of trade
3. ) Course of performance
4. ) Evidence of consistent additional terms

Question 19

Interpretation

Answer 19

The ascertainment of the meaning of a promise or agreement