Chapter 10

Question 1

Construing

Answer 1

interpreting

Question 2

6 types of contracts covered by statute of fraud

Answer 2

A promise by an executor or administrator to pay estate debts out of his own money,

A promise to answer for the debt, default, or miscarriage of another (guarantee),

An agreement made in consideration of marriage,

A contract dealing with interests in land,

An agreement not performed within one year of its making, and

Ratification of debts incurred while a minor.

Question 3

Guarantee

Answer 3

a promise “to answer for the debt, default, or miscarriage of another”; it is a conditional promise to pay only if the debtor defaults:

Question 4

Indemnity

Answer 4

a promise by a third party to be primarily liable to pay the debt

Question 5

Miscarriage

Answer 5

an injury caused by the tort of another person

Question 6

Part performance

Answer 6

performance undertaken in reliance on an oral contract relating to an interest in land and accepted by the courts as evidence of the contract without writing

Question 7

Part Payment

Answer 7

something tendered by the buyer and accepted by the seller after formation of the contract, to be deducted from the price