Chapter 16: Writing Requirement Flashcards
T or F: An agreement subject to the writing requirement must be written on paper.
False
T or F: The purpose of the Statue of Frauds is to ensure that, for certain types of contracts, there is reliable evidence of the contracts and their terms.
True
The six types of contracts that must be in writing to be enforceable are…
- Marriage contracts
- Contracts which can’t be performed within a year
- Contracts which involve interests in land
- Executor’s Contract: (no questions about it)
- Contracts for the sale of goods with over $500.00
- Surety (guarantor) contracts
T or F: A promise to pay another’s debt only if that party fails to pay does not need to be in writing to be enforceable.
False (contracts which can’t be performed within a year)
T or F: An oral sales contract for goods priced at less than $500 is unenforceable.
False
promise to pay a debt or default of another
COVERS BOTH EXECUTORS AND SURETY CONTRACT
collateral promise
an agreement to pay for another person’s debt
(Lease agreement needs parent as a co signer incase they don’t pay)
surety or guarantor contract
Statute applies if the sale of goods involves $500 or more and must be in writing
Major Exception: Specifically manufactured Goods (sorority mugs)
contracts for the sale of goods
written or electronic evidence of the oral contract
written memorandum
A writing can consist of any order confirmation, invoice, sales slip, check, fax, or e-mail—or a combination of these items
What constitutes a writing?
T or F: A party who seeks the performance of an oral contract must prove that the contract existed.
True
T or F: An oral contract for customized goods may be enforced in certain circumstances.
True
Oral representations or promises made prior to the contract’s formation or at the time the contract was created, may not be admitted in court.
parol evidence rule
T or F: In a dispute regarding an insurance claim, if a term in the written policy is ambiguous, parol evidence is admissible to show the meaning.
True
Omar orally agrees with Pi Pizza to provide delivery service to its customers for nine months. This contract is enforceable by
a. Pi only.
b. any interested third party, such as a Pi customer.
c. none of the choices.
d. either Omar or Pi.
d. either Omar or Pi
Merl buys a tablet for $500, running shoes for $200, and a set of the Game of Crowns books for $100. To be enforceable as a contract, a writing is required for the purchase of
a. the books only.
b. the tablet only.
c. the books, the shoes, and the tablet.
d. the shoes and the tablet only.
b. the tablet only
Lumber LLC files a suit against Mill Company to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds. The court could enforce such a contract if
a. Lumber foreseeably and justifiably relied on Mill’s promise.
b. neither party has begun to perform.
c. the deal does not involve customized goods.
d. Mill denies the existence of any contract.
a. Lumber foreseeably and justifiably relied on Mill’s promise.
Rocco orally agrees to sell his Spring Beverage Company to Thirsty Inc. Rocco notes the terms on a sheet of Spring stationery and signs it. This agreement is most likely enforceable against
a. Thirsty.
b. Spring and Thirsty.
c. Rocco.
d. no one.
c. Rocco
Quinn and Ruth orally agree on the sale of Seafood Shippers Inc. and jot down the terms on the back of one of Seafood’s blank invoices, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain
a. the preliminary terms.
b. the essential terms.
c. the quality terms.
d. all terms.
b. the essential terms
Char and Dill sign a written contract for the sale of Dill’s BBQ Food Truck to Char. The parties intend their written contract to be a final statement of the terms of their agreement. Later, Dill disputes some of the provisions in the deal with Char. If the dispute results in litigation, a court will most likely exclude evidence that
a. reinforces the written terms.
b. contradicts the written terms.
c. duplicates the written terms.
d. supports the written terms.
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b. contradicts the written terms
