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Flashcards in Statute of Frauds Deck (34):
1

If a contract is governed by the Statute of Frauds, then what is required?

1. The contract must be evidenced by a writing

And

2. The contract must be signed by the party against whom enforcement is sought

 

More Info: SOF

2

Who has a Statute of Frauds defense?

A party who does not sign a contract that is governed by the Statute of Frauds.

 

More Info: Statute of Frauds Defense

3

What are the steps in analyzing Statute of Frauds issues?

Ask:

1) Does Statute of Frauds apply

2) Is the Statute of Frauds satisfied

3) Is alternative enforcement available

 

More Info: SOF Analysis

4

List the 6 catagories of contracts governed by the Statute of Frauds.

1) Marriage

2) Contracts not to be performed within a year

3) Land interest

4) Executor (contracts for an executor or administrator to answer for the duty of a decedent)

5) Guarantee or suretyship (co-signing on someone's debt)

6) Contracts for the sale of goods at a total price greater than $500

5

What is the year at issue in contracts lasting greater than a year measured from?

From the date of making the contract, not the date of beginning performance

6

What must be asked when examining a contract under the one-year catagory of the Statute of Frauds?

Will the performance conclude within a year of making the contract?

7

If it is possible that an oral contract could be performed within a year of making the contract, what is the validity of the contract if it ends up taking longer?

It is not governed by the Statute of Frauds regardless of how long it actually takes to perform

8

Is a lifetime or permanent contract of employment subject to the Statute of Frauds?

These are not governed by the one year provision because death is possible within each year.

9

What type of land sales are governed by the Statute of Frauds?

Contracts for the future sale of land are governed by the land provision and require a signed writing.

 

More Info: SOF - Land Sale

10

Is the present conveyance of land promised for money governed by the Statute of Frauds?

No

11

The Statute of Frauds covers what kinds of land interests?

Any land interest

 

More Info: SOF- Land 

12

What are the requirements for guaranty agreements, or contracts that promises to answer for a debt of a third party?

They needs to be in writing and satisfy the Statute of Frauds.

 

More Info: Guaranty SOF Exceptions

13

What are the exceptions to the guaranty Statute of Frauds requirements?

1) When a creditor discharges the original debtor on the faith that he can collect

2) When the main purpose of the guarantor is to protect his own economic interest

14

What is needed to be included in a writing to satisfy the Statute of Frauds?

1) Identity of the parties to the contract

2) Nature and subject matter of the contract

3) Essential terms of agreement: price, date, performance

15

What kind of writings satisfy the Statute of Frauds?

Any memorandum with the signature of a party

16

What is needed for a signature to satisfy the Statute of Frauds?

Any symbol used with the intention to authenticate the writing.

17

What are the five essential terms of a Statute of Frauds agreement that must be in the writing?

1. Parties

2. Subject matter

3. Price

4. Date

5. Performance

18

What is the required land description for a land sale contract under the Statute of Frauds?

1. An address

Or

2. Metes & bounds

 

More Info: SOF - Land Sale Contract

19

How do you tack together documents for the Statute of Frauds?

1) If all documents are signed, or if a signed document incorporates unsigned documents by reference, then, the Statute of Frauds is satisfied

Or

2) If there is at least one signed writing unambiguously creating a contract between parties and:

A. The documents clearly refer to the same subject matter

B. There is clear and convincing evidence of acquiescence to the unsigned documents by the party resisting enforcement

 

More Info: SOF - Tacking

20

When can the Statute of Frauds in land sale contracts can be satisfied by part performance?

Part performance requires a showing of any combination of two or more of the following:

1) Possession

2) Partial payment or full payment of the purchase price

3) Making substantial improvements to the property

21

When can the Statute of Frauds in contracts lasting more than one year be satisfied by part performance?

When the contract is fully performed

22

If Statute of Frauds is not satisfied, then what remedies are available to the aggrieved party?

1) Restitution: The aggrieved party may recover the value of the benefits conferred

2) Promissory Estoppel: This may be available for detrimental reliance (must have strong evidence of reliance)

23

What are the 5 ways to satisfy the UCC Statute of Frauds?

1) A signed writing

2) Merchants confirmation

3) In court admission

4) Partial performance

And

5) Specially manufactured goods

24

What required term is needed for a UCC Statute of Frauds contract?

A quantity term

25

What are the requirements for a valid merchant's confirmation?

1. It has to be signed and contain a quantity term

2. The writing is in confirmation of the contract

3. Confirmation must be sent within a reasonable time of formation.

4. Confirmation must be based upon a real agreement and actually received

And

5. Satisfied against recipient merchant if not objected to within 10 days.

26

When will a writing satisfy the UCC Statute of Frauds?

1) It is signed by the party against whom enforcement is sought 

And

2) It indicates a contract for sale has been made between the two parties

27

What are the exceptions for a quantity term requirement?

1) Where there is language providing a basis for measuring quantity

2) Output or requirements contracts

28

What is a merchant's confirmation?

When two merchants enter an oral agreement and one of them sends the other a written confirmation of the agreement

29

How long does a recipient merchant have to object to a merchant's confirmation?

10 days

30

How can an in court admission satisfy the UCC Statute of Frauds?

A party admits in pleadings, testimony, or otherwise in court that a contract was made. The contract is only enforceable up to the quantity admitted in court. 

31

When can partial performance satisfy the UCC Statute of Fruads?

There is no writing and

1. Payment from the buyer is made and the seller accepts

Or

2. The seller sends goods and the buyer accepts

 

More Info: UCC Partial Performance

32

When can partial performance satisfy the UCC Statute of Frauds if the contract involves divisible goods or if the contract involves indivisible goods?

Divisible goods contracts will only be satisfied by partial performance up to the quantity actually delivered or paid for. Indivisible goods contracts will be fully enforceable if partial payment has been made.

33

When can specially manufactured goods satisfy the UCC Statute of Frauds?

1) The goods are to be specially manufactured for the buyer

2) The goods are not suitable for sale to others in the ordinary course of the seller's business

3) The seller has substantially begun to manufacture, or made commitments to procure, the goods

4) The actions undertaken to begin to manufacture or procure the goods occurred under circumstances which reasonably indicate that the goods are for the buyer

And

5) The actions undertaken to begin to manufacture or procure occurred before the seller received notice of the buyer's revocation

34

A Statute of Frauds defense only has what effect?

It defends against the enforcement of the contract against the non-signing party