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Flashcards in Page 19 Deck (30):
1

The SOF what are contracts that must be in writing?

MY LEGS
- sale of an interest in land
- sale of goods
- in consideration of marriage
- ones that cannot be performed within one year from its making
- contracts of suretyship

2

What are the exceptions to SOF that make it so you don't have to have a writing?

- goods: merchant's confirming memo
- land: part performance
- One year: detrimental reliance
- suretyship: main purpose rule

3

Under the SOF when is a writing required for land issues?

If there is an interest in land being sold, a transfer of legal estates in land, assigning a lease, easement, rent, option to buy land, liens, mortgages

4

If the subject matter is about building a house, instead of land, is that within the SOF?

No, subject matter must be land

5

What is The exception to the sale of land provision of the SOF?

Part performance

6

What is involved in the part performance exception to the sale of land provision of the SOF?

Possession plus:
- partial payment or
- improvements

This proves an agreement and takes the contract out of SOF

7

If the seller has performed his side of the contract by conveying interest to the buyer, what can he recover if there is no writing?

The purchase price

8

Is a contract to share the profits from the sale of land within the statute of fraud?

No, because it is not a contact for the sale of land, since it doesn't convey an interest in land

9

What is the SOF one year rule?

Contracts that, by their own terms cannot be fully completed within a year must be in writing

10

If a contract is restated at the beginning of performance, what does that do to the one year provision under the SOF?

Remakes the contract and the year starts then

11

When is the one-year provision of the SOF measured from?

The contract was actually formed until completely performed (not date performance is promised for)

12

If performance is possible within one year, must there be a writing under the SOF?

No

13

Is a promise to care for someone until they die within the one-year provision of the SOF?

No, because it is capable of ending before one year since the person might die in that time, no writing is required

14

If a contract can't be performed with in the one year of the SOF, but it has been fully performed on one side, is it enforceable even if oral?

Yes

15

If it would be a breach to perform within one year, is the contract covered by SOF?

Yes

16

Oral contracts for one year of service are allowed, if the work begins when?

On the same day the contract was executed or the day following

17

Do indefinite durations fall within the SOF?

No

18

What are some examples of uncertain events that would be possible to be performed within a year, so SOF would not apply to?

War, care for a person during their lifetime, promise to service equipment as long as needed, lifetime employment

19

If promises of multiple alternative performances are made, and any of them can be performed within one year, is the contract within the SOF?

No

20

What is UCC sale of goods rule under SOF?

There must be a writing or part/full performance if the sale of goods is $500 or more, and must be signed by party to be charged

21

What is the definition of goods?

Tangible movable property

22

What are exceptions to the UCC $500 goods rule under the SOF?

- merchant's confirmatory memo
- specialty goods/manufacture
- receipt and acceptance
- partial payment
- admission in court

23

What is the UCC's merchant's confirmatory memorandum

One merchant makes an oral order for goods, and the other merchant confirms the order in writing and sends it to the first. If the first doesn't respond within 10 days, the memo is confirmed if the receiver had reason to know of its contents. Must ID parties, quantity of goods, and be signed by party to be charged

24

How could a merchant's confirmatory memorandum not be legally sufficient?

The parties weren't merchants, or the sending merchant didn't sign it etc. Then contact only enforceable to the extent of performance: amount paid or goods excepted

25

What is the specialty goods/manufacture exception to the UCC sale of goods valued at $500 under the SOF?

If Goods were specially manufactured for buyer and not suitable for sale to others, no writing is required. If before repudiation, manufacturer has made a substantial beginning of manufacture, or commitment for procurement, or acted in reliance on the contract, that satisfies SOF

26

If a buyer receives or accepts all or part of goods, what does that mean under the UCC sale of goods at $500 under the SOF?

Contract Becomes enforceable as to those accepted and there doesn't need to be a writing

27

If there is an admission in court that there is a contract, what does that do to SOF?

Takes the contract out of SOF

28

What is a suretyship contact under the SOF?

A Contact to guarantee the debt or duty of another, and it must be in writing

29

When does suretyship not require a writing under the SOF?

When the promise to pay another's debt actually had the main purpose of getting an immediate benefit or advantage to the person who made the promise

30

If you find out your business partner owes money to someone and you don't want others to find out about it because it will look bad on your business, so you settle the debt for your partner, does SOF apply?

No, because the main purpose was an immediate benefit to yourself