FL Contracts

Question 1

Promise to Pay a Debt Barred by the Statute of Limitations

Answer 1

For a promise to pay a debt after the SOL has run to be enforceable, it must satisfy the Statute of Frauds and by:
- being in writing
- signed by the D

Question 2

What do FL courts require regarding an ambiguity before admitting extrinsic evidence to interpret a contract?

Answer 2

The ambiguity must:

(1) Exist on the face of the K
and
(2) Be latent

Question 3

When is relief for fraudulent misrepresentation granted in Florida?

Answer 3

(1) Person makes a false statement about material fact,

(2) they know the representation is false,

(3) the statement was made with intent of inducing another to act on it, and

(4) the other party relied on it and was consequently injured

Question 4

In Florida, a construction contract that contains an indemnity provision must contain a ______________ limitation on the extent of the indemnification that bears a reasonable commercial relationship to the contract.

Answer 4

monetary

Question 5

What do Florida courts require the non-breaching party to have to prevent a promise from being illusory?

Answer 5

Ability to sue for damages, and collect on the resulting judgment

Question 6

True or False:

In Florida, a phrase is considered ambiguous when it may be fairly understood more than one way.

Answer 6

True

Question 7

In Florida, what must a party seeking enforcement of a restrictive covenant do?

Answer 7

plead and prove that it has a legitimate business interest that justifies a non-compete clause.

Question 8

Besides the UCC categories, what other contract categories are within the Statute of Frauds in FL?

Answer 8

(1) Executor contracts

(2) Newspaper subscriptions

(3) Health care (guarantees)

(4) Debt

Question 9

What is a refusal to perform that is “distinct, unequivocal, and absolute,” which permits the other party to seek assurance of performance?

Answer 9

repudiation

Question 10

How can consideration be satisfied in Florida?

Answer 10

• benefit
• legal detriment
• both

Question 11

Why is a contract that provides for a choice between liquidated damages or a lawsuit to ascertain damages not permissible in Florida?

Answer 11

because it changes the forfeiture from agreed damages to a penalty.

Question 12

what elements are required to enforce an oral K real property based on part performance?

Answer 12

3/3:

(1) payment of part/all purchase price
(2) possession of property by buyer
(3) Substantial improvement of the property by buyer

Question 13

anticipatory repudiation

Answer 13

a refusal to perform that is distinct, unequivocal, and absolute