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Contracts In Writing

Subject : law
  • Answer 32 questions in 15 minutes.
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  • Match each statement with the correct term.
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This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A contract for the sale of goods for the price of $500 or more must be evidenced by a writing to be enforceable

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

3. Complete and exclusive agreement of the parties

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

5. Construction or meaning given the contract

6. The writing or writings must (1) 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

7. Statute does not apply to executed contracts. After all the promises of an oral contract have been performed by all the parties - the statute of frauds no longer applies.

8. In applying this exception - many states require the transferee to have paid a portion or all of the purchase price and either to have taken possession of the real estate or to have started to make valuable land improvements

9. Excludes inconsistent prior and contemporaneous oral and written agreements not incorporated into an integrated contract. exclude varying or changing parol (speech)

10. Is available in quasi-contract for benefits conferred in reliance on the oral contract

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

12. Previous conduct between parties

13. Practice engaged in by the trade or industry

14. Promise to become primarily liable; (then the statute of frauds t apply) making the debt one's own

15. Person who promises to pay the debt of another

16. Person appointed to settle a decedent's estate

17. 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

18. Specifies those contracts that must be in writing to be enforceable. Include: (1) promises to answer for the duty of another; (2) promises of an executor or administrator to answer personally for a duty of the decedent whose funds he is administering

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

20. Conduct between the parties concerning performance of the particular contract

21. The promise to pay the debts of another. Applies to the contractual promise by a surety (promisor) to a creditor (promisee) to perform the duties or obligations of a third person (principal debtor) if the principal debtor does not perform

22. An admission in pleadings - testimony - or otherwise in court makes the contract enforceable for the quantity of goods admitted

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

24. Applies to contracts that cannot be performed in one year--have to be in writing

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

26. Validates the contract only for the goods that have been accepted or for which payment has been made

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

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

29. (1) partly written/partly oral contract; (2) typographical error; (3) lack of contractual capacity--would become void/able; (4) a defense of fraud-- would become void/able or enforceable; (5) condition precedent to which the parties agreed orally at

30. An ora contract for specially manufactured goods i enforceable

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

32. Person whose debt is being supported