Statue of Frauds

Question 1

Requirements

Answer 1

1. Be in writing or record
2. Be signed on behalf of the party whom enforcement is sought
3. Indicate that a contract has been made between the parities
4. State with reasonable certainty the essential terms of the unperformed promises, in the case of non-goods contracts
5. Specify quantity for sale of goods

Question 2

Is it covered?

Answer 2

1. A contract of an executor or administrator to answer for a duty of his decedent.
2. Surety ship Agreement
3. Goods over $500
4. Agreements made upon consideration of marriage (Dowry)
5. Agreements for the lease of real property for longer than one year
6. Agreements for the sale of land and for an interest in the land.
7. Agreements that by its terms cannot be performed within a year of making the contract.

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Question 3

Others types that need to be in Writing

Answer 3

1. Agreements that by its terms cannot be performed during the lifetime of the promisor
2. Agreements by which a principal appoints an agent to execute a contract which is itself within a provision of the statute of frauds
3. Promises to pay debts discharged by bankruptcy
4. Agreements to pay a commission to a real estate agent

Question 4

Memo Requirements Restatement

Answer 4

enforceable if it is evidenced by any writing, signed by or on behalf of the party to be charged, which

• Reasonably identifies the subject matter of the contract, (Reasonably)
• Is sufficient to indicate that a contract with respect thereto has been made between the parties or offered by the signor to the other party, and
• State with reasonable certainty the essential terms of the unperformed promises in the contract.

Question 5

Other memo requirements

Answer 5

Does not have to be evidenced that it was communicated to the other party.

Question 6

Signature Restatement

Answer 6

Can be signed before/after contract is written.

Any symbol made or adopted by the signor to authenticate the document.

Can be placed anywhere on the document.

Question 7

UCC Memo

Answer 7

A contract for the sale of goods for the price of $500 or must have some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against which enforcement is sought or by the party’s authorized agent or broker.

• insufficient if it omits or incorrectly states a term agreed upon but the contract

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Question 8

Other UCC requirements

Answer 8

• Signature: indicates using any symbol executed or adopted with present intention to adopt or accept a writing.
• Writing: includes printing, typewriting, or any other intentional reduction to tangible form. “Written” has a corresponding meaning.

Question 9

UCC exception to signature

Answer 9

1. within a reasonable time of the making of the oral contract, one merchant sends asigned writing to the other which would satisfy the statute of frauds as against thesender;
2. the other merchant receives the writing and has reason to know of the writing’scontents; and
3. the non-signatory merchant fails to send a written notice of objection within 10days of the date of receipt of the confirmation

Question 10

Other UCC exception to writing (signature)

Answer 10

1. where payment has been made and accepted or the goods have been received and accepted
2. in a contract for specially manufactured goods where the seller cannot sell such goods to third parties in the normal course of his business, once the seller hasmade a substantial beginning in manufacturing or procurement of such goods,provided that the seller can establish that the goods were intended for the buyer.

Question 11

Multiple Writing View

Answer 11

• Willinston: It is difficult to justify the extension of the doctrine of incorporation to permit several writings to be read together simply because it appears that they relate to the same transaction.
• Corbin: More flexible approach with understanding of the circumstances incorporated that is referenced by the same subject matter.

Question 12

Promissory Estoppel

Answer 12

A non-goods contract that fails to satisfy the statute of frauds may nevertheless be enforceable if the promisor’s promise foreseeably induces action or forbearance on the part of the promisee or a third person and enforcement is the only means of avoiding an injustice.

Question 13

Equitable Estoppel

Answer 13

If a party relies on the assertion that a written document is not required for the transaction, then cannot assert the SOF defense