Statute of Frauds

Question 1

Parol evidence rule

Answer 1

Used in interpreting and enforcing a written contract.

Under parol evidence rule, when parties to a contract enter into an agreement in writing, with the intent that the agreement embodies the final expression of their bargain, any other expressions, written or oral, made prior to the writing, as well as any other oral expressions made contemporaneous with the writing. Are inadmissible to vary the terms of the writing.

Question 2

Statute of Frauds

Answer 2

Certain agreements must be evidenced by a writing or writings signed by the party sought to be held liable under the K. (Only party to be charged must sign).

M marriage

Y K cant be performed within a year

L promises creating interest in land

E executor promises to pay from own funds

G goods over 500

S surety promises

Question 3

Confirmatory Memo Rule

Answer 3

UCC Rule used for confirming oral agreements. In Ks between merchants, if one party within a reasonable time after an oral agreement has been made, sends to the other party a written confirmation of the understanding that is sufficient under SOF to bind the sender, it will also bind the recipient if

1. He has reason to know of the confirmations contents and
2. He does not object to it in writing within 10 days of receipt

Question 4

Doctrine of Part performance (Land Sale)

Answer 4

Under doctrine of party performance, conduct that unequivocally indicates that the parties have contracted for the sale of land will take the contract out of the SOF if at least two of following are met:

1. Payment (in whole or part)
2. Possession
3. Valuable improvements

For the seller to enforce oral Land sale K he must have conveyed property to buyer

Question 5

Statute of Frauds & Received and Accepted Goods

Answer 5

If goods are either received and accepted or paid for, the K is enforceable without a writing.

HOWEVER K not enforceable beyond quantity of goods accepted or paid for. This, if only some goods called for in oral K are accepted and paid for, K is only partially enforceable

Question 6

Exceptions to SOF for sale of goods over $500

Answer 6

1. Specially manufactured goods unsuitable for resale in the sellers regular course of business
2. Contracts admitted in court
3. Contracts partially accepted (enforceable to the extent of the acceptance)

Question 7

Specially Manufactured Goods Exception to SOF

Answer 7

2-201(3) provides that writing is not required where the K is for specially manufactured goods not suitable for resale in the ordinary course of sellers business and the seller has made a substantial beginning of their manufacture or commitment los for their procurement.