ch.13 - statute of frauds

Question 1

SOF: is the agreement within the statute?

Answer 1

1. Marriage
2. Year (over 1 yr)
3. Land sale contract
4. Executor pymt of estates debts
5. Guaranty
6. Sale of goods of $500 or more (UCC)

Question 2

SOF: is there sufficient memorandum?

Answer 2

Any writing signed by the party to be charged that
1. identifies the subject matter
2. indicates a contract exists
3. states the essential terms of the unperformed promises

Question 3

CL SOF: If not sufficient memo, is there an exception?

Answer 3

1. promissory estoppel
2. full performance by both parties
3. full performance by one party (YEAR)
4. part performance (land sale contracts)
5. court admission

Question 4

UCC SOF: If not sufficient memo, is there an exception?

Answer 4

1. specially manufactured goods
2. performance has started
3. court admission
4. part performance

Question 5

Statute of frauds steps

Answer 5

1. is the agreement w/in the statute of frauds
2. is there sufficient memorandum
3. if not sufficient memo, is there an exception

Question 6

if no writing or exception

Answer 6

contract is void

Question 7

marriage provision

Answer 7

promise to transfer property in return for either a promise to marry or the actual act of marrying someone
- ex. third party saying “if you get married I will give you ____”

Question 8

Year

Answer 8

if the performance of the contract requires over one year to complete
- service contract not capable of being performed w/in a year
- where the date of performance is more than a year away from the date of formation

Question 9

land sale

Answer 9

transfers of ownership interests, mortgage, lease for over a year, and grant of easement for over a year

Question 10

executor

Answer 10

exec of estate has promised to use their own money to pay the obligations of the estate

Question 11

guaranty

Answer 11

main purpose, guarantor benefits

Question 12

sale of goods

Answer 12

must be of $500 or more

Question 13

CL: writing that satisfies SOF

Answer 13

1. signed by party to be charged
2. subject matter included
3. sufficient to indicate a K exists
4. essential terms

Question 14

UCC: writing that satisfies SOF

Answer 14

1. signed by the party to be charged
2. confirmatory memo
   - both parties must be merchants
   - may be a letter signed by P, sent to D w/in a rsbl time
   - did they have notice of the letter
   - there was no obj to the memo