Contract Documentation

Question 1

CONTRACT DOCUMENTATION - Need

Answer 1

Each situation has a valid verbal agreement. The question is what is necessary to be in writing.

Question 2

CONTRACT DOCUMENTATION - Goal 1

Answer 2

Recognize the types of transactions that require documentation to be enforceable in the United States.

Question 3

CONTRACT DOCUMENTATION - Goal 2

Answer 3

Explain the documentation required to make a contract enforceable

Question 4

CONTRACT DOCUMENTATION - Goal 3

Answer 4

Compare and contrast legal documentation requirements and good documentation practices.

Question 5

CONTRACT DOCUMENTATION - Goal 4

Answer 5

Understand the exceptions to legal documentation requirements.

Question 6

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts for an interest in LAND

Answer 6

Yes

Question 7

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts for an sale in LAND

Answer 7

No

Question 8

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

SURETYSHIP (co-signer on lending)

Answer 8

Yes

Question 9

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

SURETYSHIP (co-signer on lending)

Answer 9

No

Question 10

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts longer than ONE YEAR

Answer 10

Yes

Question 11

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts shorter than ONE YEAR

Answer 11

No

Question 12

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts surrounding the promise of MARRIAGE

Answer 12

Yes

Question 13

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts surrounding the promise of ENGAGEMENT

Answer 13

No

Question 14

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts for a SALE OF GOODS > $500

Answer 14

Yes

Question 15

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts for a SALE OF GOODS < $500

Answer 15

No

Question 16

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts for a SALE OF INTANGIBLES > $5000

Answer 16

Yes

Question 17

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

Contracts for a SALE OF INTANGIBLES < $5000

Answer 17

No

Question 18

Does the Statute of Frauds requires some WRITTEN,
SIGNED evidence that a valid contract exists in:

List the areas of modification

Answer 18

Contracts for an interest in LAND
SURETYSHIP (co-signer on lending)
Contracts longer than ONE YEAR
Contracts surrounding the promise of MARRIAGE
Contracts for a SALE OF GOODS > $500
Contracts for a SALE OF INTANGIBLES > $5000

Question 19

Which organization does not require a writing requirement?

Answer 19

CISG

Question 20

Is the following a Statute of Frauds Writing Requirement?

The writing must show the PARTIES to the transaction.

Answer 20

Yes

Question 21

Is the following a Statute of Frauds Writing Requirement?

the writing must show the TERMS to the transaction.

Answer 21

No

Question 22

Is the following a Statute of Frauds Writing Requirement?

the writing must show A CONTRACT WAS CREATED.

Answer 22

Yes

Question 23

Is the following a Statute of Frauds Writing Requirement?

the writing must where A CONTRACT WAS CREATED.

Answer 23

No

Question 24

Is the following a Statute of Frauds Writing Requirement?

the writing must be signed BY THE PARTY WHO NOW IS TRYING TO AVOID PERFORMING.

Answer 24

Yes

Question 25

Is the following a Statute of Frauds Writing Requirement?

the writing must be signed BY THE PARTY WHO NOW IS TRYING TO ENFORCE PERFORMING.

Answer 25

No

Question 26

Is the following a Statute of Frauds Writing Requirement?

In a sale of goods >$500, must show the QUANTITY of goods to be sold.

Answer 26

Yes

Question 27

Is the following a Statute of Frauds Writing Requirement?

In a sale of goods >$500, must show the QUALITY of goods to be sold.

Answer 27

No

Question 28

Statute of Frauds EXCEPTIONS #1

Answer 28

Partial Performance (must include POSSESSION in land transactions).

Question 29

Statute of Frauds EXCEPTIONS #2

Answer 29

Judicial Admission in an ancillary case.

Question 30

Statute of Frauds EXCEPTIONS #3

Answer 30

UCC Merchants’ Confirmation in a sale of goods Between Merchants. (Only an exception to the SIGNATURE REQUIREMENT).