ch 16: Writing Requirement

Question 1

statute of frauds

Answer 1

prevents harm against innocent parties by requiring written evidence of agreements

Question 2

Contracts that must be in writing under the statute of frauds

Answer 2

Marriage contracts, A contract that can’t be performed within a year, contracts which involve interests in land, executor’s contracts, contracts for the sale of goods worth over $500, surety (guarantor) contracts

Question 3

Contracts that involve interests in land exception

Answer 3

if people can prove perpetual payments

Question 4

Contract for sale of goods worth over $500 exception

Answer 4

specially manufactured goods
ex- sorority mugs

Question 5

An act for the prevention of frauds and perjuries

Answer 5

Passed in 1677 England helping the lower classes of people because status heavily influenced jury decisions

Question 6

surety contracts

Answer 6

guarantor stands for he debt of a 3rd party (leases)

Question 7

collateral promise

Answer 7

promise to answer debt for another (surety and executor) have to be in writing

Question 8

sufficiency of writing

Answer 8

any writing where judge can determine what the contract was
Has to have the signature of party being asked to perform

Question 9

parole evidence rule

Answer 9

oral representations made prior to contracts formation may not be admitted in court
exception are voidable contracts like contracts accepted under duress