Question 1

Under the majority rule, the test under the one-year provision of the statute of frauds is whether the parties believe that the contract cannot be performed within one year.

Accepted Answer

A) True 
 B)False

Question 2

Under the Restatement and the Code, when can supplemental evidence be used with a written contract?

Accepted Answer

Although an integrated written agreement...

Question 3

Under the Code an oral contract for specially manufactured goods costing $500 is enforceable even if the seller has not begun their manufacture.

Accepted Answer

A) True 
 B)False

Question 4

The parol evidence rule applies only to integrated contracts, meaning those in which the parties have assented to the written agreement as the statement of the complete agreement between them.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is untrue with regard to the interpretation of contracts?

Accepted Answer

A)   Express terms prevail over course of performance, and course of performance prevails over course of dealing.
B)   Technical terms will always be given technical meaning and language that has a commonly accepted meaning is always interpreted in accordance with that meaning.
C)   Handwritten or typed terms are given greater weight than preprinted terms.
D)   All writings that are part of the same transaction are interpreted together.

Question 6

The statute of frauds requires all contracts that can be fully performed within one year of their making to be in writing.

Accepted Answer

A) True 
 B)False

Question 7

Identify at least six situations in which the parol evidence rule does not apply.

Accepted Answer

The text identifies eight situations in ...

Question 8

An employment contract that is in any way capable of being performed within one year from the date of the agreement falls within the requirements of the statute of frauds.

Accepted Answer

A) True 
 B)False

Question 9

Where a contractual term has more than one possible meaning, it will be interpreted in favor of the party who supplied the contract.

Accepted Answer

A) True 
 B)False

Question 10

The suretyship provision has been interpreted to include promises made to a debtor.

Accepted Answer

A) True 
 B)False

Question 11

Jim promises to marry Cynda if Cynda will buy him a new Ferrari for his birthday. If this promise is made orally, it is not enforceable.

Accepted Answer

A) True 
 B)False

Question 12

The main purpose doctrine is a court-developed exception to the suretyship provision.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following would NOT require a writing under the statute of frauds?

Accepted Answer

A)   The buyer agrees to pay $10,000 for a piece of real estate.
B)   A renter agrees to rent a building for a 5-year period.
C)   An agreement creates an easement to run cables across adjoining land.
D)   A landscaper agrees to landscape the lot surrounding an office building.

Question 14

The statute of frauds generally requires that both parties sign the writing.

Accepted Answer

A) True 
 B)False

Question 15

Barry's Sport Shop calls Champion Tee Shirt Company to order 200 designer tee shirts at $2 per shirt. The next day, Barry decides he can easily sell 100 more. Before the order is filled, he calls to change the order to 300 tee shirts. Champion sends 200. Can Barry force Champion to send the additional 100?

Accepted Answer

A)   No, because there is no consideration for the extra 100 shirts.
B)   No, because Barry does not have a writing signed by Champion Tee Shirts.
C)   Yes, because this is a subsequent modification of the original contract.
D)   Yes, because Champion Tee Shirts is a merchant within the meaning of Article 2 of the UCC.

Question 16

An example of an enforceable oral contracts is:

Accepted Answer

A)   an oral promise to paint the exterior of a shed for $200.
B)   an oral agreement to substitute different land for that described in the original lease contract.
C)   an oral agreement to extend an employee's contract for six months to a total of two years.
D)   an oral promise to guarantee the additional duties of another.

Question 17

In which of the following cases would an oral contract be enforceable without a written memorandum?

Accepted Answer

A)   Ron orders three custom-made suits.
B)   Michelle calls an employment agency in Paris to arrange for maid service for her three-month Parisian vacation.
C)   Anna orders a top-of-the-line computer over the phone.
D)   Catherine calls Lucky Dude Ranch to purchase the championship race horse they have advertised in the paper.

Question 18

On March 1, Tammy, a student, received a telephone call from Watterson, Inc. offering her a job for one year beginning on June 15, after completion of the school year. According to the personnel manager, she will have to move to California and be ready to start work at 8:00 a.m. on June 15. Should Tammy ask for a letter confirming the telephone conversation if she accepts the offer immediately?

Accepted Answer

A)   Yes, because the job offer is a collateral promise.
B)   Yes, because the job offer is covered by the parol evidence rule.
C)   Yes, because the job offer is for longer than one year from March 1.
D)   No, because the job offer is for one year from June 15.

Question 19

Although not covered by the original statute of frauds, most states have statutes requiring a writing to make all but which of the following contracts enforceable?

Accepted Answer

A)   A contract to make a will.
B)   A contract authorizing an agent to sell real estate.
C)   Contracts for the sale of securities.
D)   Contracts creating certain types of security interests.

Question 20

Which of the following is NOT a requirement of written contracts?

Accepted Answer

A)   specify the parties to the contract.
B)   specify the subject matter and essential terms.
C)   state the price in specific monetary terms.
D)   be signed by the party to be charged or by his/her agent.

Exam 15: Contracts in Writing

Under the majority rule, the test under the one-year provision of the statute of frauds is whether the parties believe that the contract cannot be performed within one year.

Correct Answer
verified

An example of an enforceable oral contracts is:

Correct Answer
verified

An employment contract that is in any way capable of being performed within one year from the date of the agreement falls within the requirements of the statute of frauds.

Correct Answer
verified

In which of the following cases would an oral contract be enforceable without a written memorandum?

Correct Answer
verified

Where a contractual term has more than one possible meaning, it will be interpreted in favor of the party who supplied the contract.

Correct Answer
verified

The statute of frauds generally requires that both parties sign the writing.

Correct Answer
verified

Identify at least six situations in which the parol evidence rule does not apply.

Correct Answer
verified
The text identifies eight situations in ...
View Answer

Correct Answer
verified

The suretyship provision has been interpreted to include promises made to a debtor.

Correct Answer
verified

Under the Code an oral contract for specially manufactured goods costing $500 is enforceable even if the seller has not begun their manufacture.

Correct Answer
verified

The parol evidence rule applies only to integrated contracts, meaning those in which the parties have assented to the written agreement as the statement of the complete agreement between them.

Correct Answer
verified

The main purpose doctrine is a court-developed exception to the suretyship provision.

Correct Answer
verified

The statute of frauds requires all contracts that can be fully performed within one year of their making to be in writing.

Correct Answer
verified

Which of the following would NOT require a writing under the statute of frauds?

Correct Answer
verified

Correct Answer
verified

Under the Restatement and the Code, when can supplemental evidence be used with a written contract?

Correct Answer
verified
Although an integrated written agreement...
View Answer

Although not covered by the original statute of frauds, most states have statutes requiring a writing to make all but which of the following contracts enforceable?

Correct Answer
verified

Which of the following is NOT a requirement of written contracts?

Correct Answer
verified

Which of the following is untrue with regard to the interpretation of contracts?

Correct Answer
verified

Jim promises to marry Cynda if Cynda will buy him a new Ferrari for his birthday. If this promise is made orally, it is not enforceable.

Correct Answer
verified

Exam 15: Contracts in Writing

Under the majority rule, the test under the one-year provision of the statute of frauds is whether the parties believe that the contract cannot be performed within one year.

Correct AnswerverifiedShow Answer

An example of an enforceable oral contracts is:

Correct AnswerverifiedShow Answer

An employment contract that is in any way capable of being performed within one year from the date of the agreement falls within the requirements of the statute of frauds.

Correct AnswerverifiedShow Answer

In which of the following cases would an oral contract be enforceable without a written memorandum?

Correct AnswerverifiedShow Answer

Where a contractual term has more than one possible meaning, it will be interpreted in favor of the party who supplied the contract.

Correct AnswerverifiedShow Answer

The statute of frauds generally requires that both parties sign the writing.

Correct AnswerverifiedShow Answer

Identify at least six situations in which the parol evidence rule does not apply.

Correct AnswerverifiedThe text identifies eight situations in ...View AnswerShow Answer

Correct AnswerverifiedShow Answer

The suretyship provision has been interpreted to include promises made to a debtor.

Correct AnswerverifiedShow Answer

Under the Code an oral contract for specially manufactured goods costing $500 is enforceable even if the seller has not begun their manufacture.

Correct AnswerverifiedShow Answer

The parol evidence rule applies only to integrated contracts, meaning those in which the parties have assented to the written agreement as the statement of the complete agreement between them.

Correct AnswerverifiedShow Answer

The main purpose doctrine is a court-developed exception to the suretyship provision.

Correct AnswerverifiedShow Answer

The statute of frauds requires all contracts that can be fully performed within one year of their making to be in writing.

Correct AnswerverifiedShow Answer

Which of the following would NOT require a writing under the statute of frauds?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Under the Restatement and the Code, when can supplemental evidence be used with a written contract?

Correct AnswerverifiedAlthough an integrated written agreement...View AnswerShow Answer

Although not covered by the original statute of frauds, most states have statutes requiring a writing to make all but which of the following contracts enforceable?

Correct AnswerverifiedShow Answer

Which of the following is NOT a requirement of written contracts?

Correct AnswerverifiedShow Answer

Which of the following is untrue with regard to the interpretation of contracts?

Correct AnswerverifiedShow Answer

Jim promises to marry Cynda if Cynda will buy him a new Ferrari for his birthday. If this promise is made orally, it is not enforceable.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The text identifies eight situations in ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Although an integrated written agreement...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified