NY BAR REVIEW CONTRACTS 2 Flashcards
exception to consideration requirement
release (from obligation) = binding if in writing
general obligations law
agreement to modify/ discharge obligation - no need for consideration if accompanied by signed writing
transfer of property or right permitted without consideration
consideration NOT required for ASSIGNMENT if signed by assignor
assignment
contractual obligation
promissory note
promise to pay me $. enforceable for me against him.
transferring a contract right
inter vivos without consideration
consideration rule for assignment
is effective so long as done in writing
all contracts have to be in writing to be enforceable. true or false?
FALSE
contract in writing if its subject to statute of _____
FRAUDS
statute of frauds
contract to be in writing signed by party to be charged
one year provision
contracts that CANNOT be performed within 1 year
special promise to answer for debt/default/miscarriage of another
surety provision
surety provision
if my friend loans $ to my brother, and my friend says he will do so only if you stand behind it. im not getting the consideration for it. in WRITING.
contract in consideration of marriage
WRITING
promise to pay a debt discharged in bankruptcy
i owe you / WRITING