Statute of Frauds

Question 1

What is required for a writing to satisfy the statute of frauds?

Answer 1

1. identification of the parties to the transaction
2. the nature and subject matter of the contract
3. the essential terms of the contract such as the price and date for performance

Question 2

When will oral contracts for sale of land be enforceable under doctrine of part performance?

Answer 2

Part performance will make an oral contract for the sale of land enforceable if at least 2 of the 3 are met:
1. payment of all or part of the purchase price
2. taking possession of land
3. making substantial improvements to the property

Question 3

When will oral contracts to be completed in more than one year be enforcable?

Answer 3

1. if fully performed

Question 4

What is recovery in quantum meriut?

Answer 4

Applicable to oral contracts not to be completed in less than one year, available to the performing party to recover reasonable value for part performance

Question 5

When will oral contracts for sales of goods over $500 be enforcable?

Answer 5

Satisfied by part performance of a sale of goods for contract if the goods were delivered and accepted

Question 6

What is recovery for benefits conferred for contract that’s unenforceable due to statute of frauds?

Answer 6

One party bestows benefits upon another in connection with an unenforceable contract, allowing aggrieved party may recover the value of the benefits conferred

Question 7

When is promissory estoppel available regarding performance under contract unenforceable due to statute of frauds

Answer 7

May be available for detrimental reliance on unenforceable oral contract when:

1. one party to oral contract within statute of frauds promises the other party they will create a signed writing and party relied by not. taking other steps to satisfy statute of frauds
2. (majority jurisdictions) where no specific assurances of creating a signed writing were made, but reliance is on the underlying oral contract itself

Question 8

How may statute of frauds be satisfied under the UCC?

Answer 8

1. signed writing
2. merchant’s confirmation
3. judicial admission
4. partial performance
5. specially manufactured goods

Question 9

What does the UCC require to be in a writing that will satisfy the statute of frauds?

Answer 9

1. tangible form
2. signed by party against whom enforcement is sought, including any symbol that’s intended to authenticate
3. sufficient to indicate that a contract for sale has been made between the parties
4. stating the quantity, other language in the writing providing a clear basis for measuring quantity or indicating that the contract is an output or requirement contract

Question 10

What is a merchant’s confirmation that will satisfy statute of frauds under UCC?

Answer 10

When two merchants enter an oral agreement and one merchant sends the other written confirmation of the agreement, statute of frauds will be satisfied if the recipient fails to object to the confirmation within 10 days

Question 11

When is confirmation of agreement valid for purposes of satisfying statute of frauds under UCC?

Answer 11

1. writing must be sufficient and include signature and quantity terms
2. writing is in confirmation of the contact
3. confirmation is sent within a reasonable time of formation
4. confirmation is based on a real agreement or discussion between the parties, and must be actually received

Question 12

What is judicial admission?

Answer 12

When a party admits a contract formation in pleading and testimony

Question 13

To what extent is a judicial admission enforcable?

Answer 13

Enforceable only up to quantity admitted in the pleading or testimony

Question 14

When is partial performance under the UCC enforceable?

Answer 14

1. goods for which payment was made or accepted
2. goods which have been received or accepted

Question 15

To what extent is partial performance under the UCC enforceable for divisible goods?

Answer 15

Contract is only enforceable for the number of goods delivered and paid for

Question 16

To what extent is partial performance under the UCC enforceable for indivisible goods?

Answer 16

Party payment renders entire contract enforceable

Question 17

What is requirement regarding enforceability of oral contract for specially manufactured goods under the UCC?

Answer 17

1. goods were specially manufactured for the buyer
2. goods aren’t suitable for sale to others
3. seller substantially began to manufacture or made commitments to get the goods
4. actions to begin manufacture or procure goods occurred under circumstances which reasonably indicate goods were for buyer
5. actions to begin manufacture or procure occurred before seller received notice of buyer’s revocation