Chapter 15: Contracts In Writing

Question 1

Statute of frauds

Answer 1

Specifies those contracts that must be in writing to be enforceable.

Question 2

Suretyship provision

Answer 2

Promise to pay the debts of another.

Question 3

Surety

Answer 3

Person who promises to pay the debt of another.

Question 4

Principal debtor

Answer 4

Person whose debt is being supported.

Question 5

Collateral promise

Answer 5

Undertaking to be secondarily liable; that is, liable if the principal debtor does not perform.

Question 6

Original promise

Answer 6

Promise to become primarily liable.

Question 7

Main purpose

Answer 7

Object of promisor/surety is to provide an economic benefit for herself.

Question 8

Executor-administrator provision

Answer 8

Applies to promises to answer personally for a duty of the decedent.

Question 9

Executor or administrator

Answer 9

Person appointed to settle a descendent’s estate.

Question 10

Marriage provision

Answer 10

Applies to promises in consideration of marriage but not to mutual promises to marry.

Question 11

Land contract provision

Answer 11

Applies to promises to transfer any right, privilege, power, or immunity in real property.

Question 12

Interest in land

Answer 12

And you’re right, privilege, power, or immunity in real property.

Question 13

One year provision

Answer 13

Applies to contracts that cannot be performed within one year.

Question 14

Possibility test

Answer 14

If it is possible for the agreement to be performed within one year, it is not within the statute of frauds.

Question 15

Computation of time

Answer 15

The year runs from the time the agreement is made

Question 16

Full performance by one party

Answer 16

Makes the promise of the other party enforceable under majority view.

Question 17

Sale of goods

Answer 17

A contract for the sale of goods for the price of $500 or more must be evidenced by a writing to be enforceable.

Question 18

Admission

Answer 18

And admission in pleadings, testimony, or otherwise in court makes the contract enforceable for the quantity of goods admitted.

Question 19

Specially manufactured goods

Answer 19

And or contract for specially manufactured goods is enforceable.

Question 20

Delivery or payment and acceptance

Answer 20

Validates the contract only for the goods that have been excepted offer which payment has been excepted.

Question 21

Modification or rescission of contracts within the statute of frauds

Answer 21

Oral contrast modifying existing contracts are unenforceable if the resulting contract is within the statute of frauds

Question 22

Compliance: general contract rule

Answer 22

the writing or writings must (1) specify the parties to the contract; (2) specify the
subject matter and essential terms; and (3) be signed by the party to be charged or by her agent

Question 23

Compliance: sale of goods

Answer 23

the writing or writings must (I) be sufficient to indicate that a contract has been made between the parties, (2)
be signed by the party against whom enforcement is sought or by her authorized agent, and (3) specify the quantity of goods to be sold

Question 24

Full performance

Answer 24

Statute does not apply to executed contracts

Question 25

Restitution

Answer 25

When a contractors unenforceable because of the statute of frauds, a party may recover in restitution the benefits conferred on the other party in performance of the contract.

Question 26

Promissory estoppel

Answer 26

Oral contracts will be enforced where the party seeking enforcement has reasonably and justifiably relied on the promise in the court can avoid injustice only by enforcement.

Question 27

Parole evidence rule

Answer 27

Excludes inconsistent prior and contemporaneous oral and written agreement not incorporated into an integrated contract.

Question 28

Integrated contract

Answer 28

Complete and exclusive agreement of the parties.

Question 29

Course of dealing

Answer 29

Previous contact between the parties

Question 30

Usage of trade

Answer 30

Practice engaged in by the trade or industry.

Question 31

Course of performance

Answer 31

Conduct between the parties concerning performance of the particular contract.

Question 32

Interpretation

Answer 32

Construction or meaning given the contract.