Chapter 15

Question 1

A state statute that requires certain types of contracts to be in writing to be enforceable.

Answer 1

Statute of Frauds

Question 2

A secondary promise to a primary transaction, such as a promise made by one person to pay the debts of another if the latter fails to perform. It normally must be in writing to be enforceable.

Answer 2

Collateral Promise

Question 3

An agreement made before marriage that defines each partner’s ownership rights in the other partner’s property. These agreements must be in writing to be enforceable.

Answer 3

Prenuptial Agreement

Question 4

A rule of contracts under which a court will not receive into evidence prior or contemporaneous external agreements that contradict the terms of the parties’ written contract.

Answer 4

Parol Evidence Rule

Question 5

A written contract that constitutes the final expression of the parties’ agreement. Evidence extraneous to the contract that contradicts or alters the meaning of the contract in any way is inadmissible.

Answer 5

Integrated Contract