Defenses

Question 1

A contract for one month of service that is to begin 13 months in the future is ___________.

Answer 1

Subject to the Statute of Frauds because the one-year period runs from the date of the agreement

Question 2

A contract involving illegal consideration

Answer 2

is void, rather than voidable.

Question 3

In a contract for the sale of goods priced 500 dollars or more, if the goods are received and accepted or paid for

Answer 3

the contract will be enforced even if there is no writing.

Question 4

Mutual mistake can be a defense to the formation of a contract if:

Answer 4

The mistake concerns a basic assumption on which the contract is made

Question 5

A mistaken assumption as to the _______ of the subject matter generally will not be remedied.

Answer 5

Value.

Question 6

In determining whether a service contract is subject to the Statute of Frauds, one should look to the:

Answer 6

Date of the Agreement.

Question 7

The Statute of Frauds requires that certain contracts be evidenced by

Answer 7

a writing signed by the parties to be bound.

Question 8

When two merchants enter into an oral contract for the sale of goods and one party sends to the other party a signed, written confirmation of the agreement, it:

Answer 8

Binds both the sender and recipient, provided the recipient had reason to know of its contents and did not object in writing within 10 days of receipt

Question 9

The confirmatory memo rule applies __________.

Answer 9

only if both parties to the agreement are merchants.

Question 10

The confirmatory memo rule is an exception to

Answer 10

the statute of frauds.

Question 11

The concept of __________ is the refusal of a court to enforce a contract provision or an entire contract to avoid “unfair” terms.

Answer 11

Unconscionability

Question 12

Under the confirmatory memo rule, a written confirmation sent from one party to the other confirming the terms of their oral sales agreement will:

Answer 12

bind the sender only if he is a merchant and the memo is signed.

Question 13

A contract entered into between an infant and an adult is __________.

Answer 13

voidable by the infant but binding on the adult.

Question 14

A mutual mistake as to a basic assumption on which the contract is made will

Answer 14

always render the contract voidable.

Question 15

A seller of land under an oral sale contract will succeed in a suit against the buyer for the purchase price if:

Answer 15

The seller conveys the property to the buyer.

Question 16

A service contract that, by its terms, cannot be performed within one year is

Answer 16

subject to the Statute of Frauds.

Question 17

What is the Statute of Frauds?

Answer 17

A statute requiring that certain types of agreements must be evidenced by a writing signed by the party sought to be bound.

Question 18

Under the Statute of Frauds, a promise creating an interest in land must be

Answer 18

evidenced by writing.