Ch11 Written Contracts

Question 1

Existence of contract cannot be denied if written.

Answer 1

Reasons for Written Contracts

Question 2

Terms of contract can be ascertained.

Answer 2

Reasons for Written Contracts

Question 3

More reliable evidence than oral evidence.

Answer 3

Reasons for Written Contracts

Question 4

An agreement to sell land or any interest in or concerning land.

Answer 4

Statute of Frauds: agreements must be written

Question 5

An agreement the terms of which cannot be performed within one year from the time it is made.

Answer 5

Statute of Frauds: agreements must be written

Question 6

An agreement to become responsible for the debts or default of another.

Answer 6

Statute of Frauds: agreements must be written

Question 7

An agreement of an executor or administrator to pay the debts of the estate from the executor’s or the administrator’s personal funds.

Answer 7

Statute of Frauds: agreements must be written

Question 8

An agreement containing a promise in consideration of marriage.

Answer 8

Statute of Frauds: agreements must be written

Question 9

An agreement for the sale of goods over $500

Answer 9

Statute of Frauds: agreements must be written

Question 10

Note or memorandum in writing is required when one party sues the other for a breach of contract.

Answer 10

Note or Memorandum

Question 11

Memorandum must contain all essential terms of the contract.

Answer 11

Note or Memorandum

Question 12

Generally, contracts can be

Answer 12

oral or written.

Question 13

However, in some situations, a contract must be in writing to be enforceable in a

Answer 13

court of law.

Question 14

Other Written Contracts: Sale of securities.

Answer 14

State specific written contracts

Question 15

Other Written Contracts: Agreements to pay a commission to a real estate broker.

Answer 15

State specific written contracts

Question 16

Other Written Contracts: A new promise to extend the statute of limitations.

Answer 16

State specific written contracts

Question 17

Complete, written contract, may not be modified by oral testimony unless evidence of fraud, accident, or mistake exists.

Answer 17

Parole Evidence Rule

Question 18

All contracts of importance should be in ____________. (Instructor: in another words don’t use an oral contract when it is something you might need to prove!)

Answer 18

Written

Question 19

In the case of an oral contract, if you don’t have any ______________ then it will be harder to prove.

Answer 19

Witnesses

Question 20

This is the person that takes over all the deceased’s assets.

Answer 20

Executor

Question 21

This refers to a breach of any contractual obligation including the payment of money, but also other obligations such as the failure to build a house.

Answer 21

Default

Question 22

A complete, written contract may not be modified by oral testimony unless evidence of fraud, accident, or a mistake exists.

Answer 22

Parole Evidence Rule

Question 23

This listed certain classes of contacts that could not be enforced unless their terms were evidenced by a written document.

Answer 23

Statute of Frauds

Question 24

This refers to an obligation to pay money.

Answer 24

Debt

Question 25

Spoken words. (Two words)

Answer 25

Parole Evidence

Question 26

The Electronic Signature in Global and National Commerce Act makes it so that the signature no longer has to be on ________.

Answer 26

Paper

Question 27

How many numbers of statutes of frauds are listed as a MUST for agreements to be in writing?

Answer 27

Six

Question 28

There is an allowance regarding the requirement of a written agreement to the Statute of Frauds and that is if one has paid money or performed a service under an oral contract...the money or value of the service may be ____________ .....

Answer 28

Recovered

Question 29

Even if there is someone present during the agreement of the oral contract their _______________ may vary considerably as to the actual terms of the contract.

Answer 29

Testimony

Question 30

A ___________ of real property for more than one year must be in writing in order to be binding.

Answer 30

Lease

Question 31

Different _____________ has a few additional types of contracts that must be in writing to be enforceable.

Answer 31

Statutes

Question 32

In the court case revisited the outcome stated The Statute of Frauds did not make the oral agreement ___________________.

Answer 32

Unenforceable

Question 33

Oral Testimony

Answer 33

Parole Evidence

Question 34

Law requiring certain contracts to be in writing

Answer 34

Statute of Frauds

Question 35

It is always a good idea (but not a requirement) for all contracts to be in writing.

Answer 35

True

Question 36

It is often difficult to prove oral contracts.

Answer 36

True

Question 37

The English Parliament enacted the Statute of Frauds in 1814 as a response to legal issues arising from the War of 1812.

Answer 37

False

Question 38

An agreement to lease land must be in writing, in accordance with the Statute of Frauds.

Answer 38

True

Question 39

Contracts for services that take less than six months must be in writing.

Answer 39

False

Question 40

An agreement by which one person promises to pay a sum of money or to give property to another in consideration of marriage is illegal.

Answer 40

False

Question 41

Electronic signatures are now permissible and legally enforceable.

Answer 41

True

Question 42

An oral contract to sell mineral rights is enforceable.

Answer 42

False

Question 43

Both parties must have signed the note or memorandum required by the Statute of Frauds.

Answer 43

False

Question 44

The Statute of Frauds applies only to:

Answer 44

executory contracts.

Question 45

A breach of contractual obligations other than money, such as a contract to build a house, is referred to as ________.

Answer 45

Default

Question 46

If a promisor agrees to become responsible for the debts or default of another, it:

Answer 46

must be in writing.

Question 47

Parole evidence means:

Answer 47

spoken words.