Deck 13: Form of Contracts

Question 1

The parol evidence rule:

A) states that any spoken or written words that are in conflict with what the written contract states should be introduced as evidence in a court of law.
B) refers to supplementary evidence or conditions that a party wants to be added to an existing written contract.
C) specifies that certain kinds of agreements must be in writing to be enforceable.
D) does not prohibit a person from legally entering into oral contracts for certain kinds of agreements.

Answer 1

B

Question 2

Antenuptial agreements often include a provision whereby they do not expire over an extended period of time.

Answer 2

True

Question 3

If there is full performance of an oral agreement to sell real property, the contract does not need to be in writing.

Answer 3

True

Question 4

Agreements by an executor or administrator to pay debts of a deceased person must be in writing to be enforceable.

Question 5

The Statute of Frauds applies to executory contracts only.

Question 6

Oral evidence introduced after a contract is signed may be legally accepted if it clarifies some point in a written agreement.

Question 7

If the life of an agreement is indefinite and there is a possibility of it being completed within a year, the agreement need not be in writing to be enforceable.

Question 8

The Statute of Frauds prohibits a person from legally entering into oral contracts for certain kinds of agreements.

Question 9

A guaranty, or promise, to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.

Question 10

To satisfy the Statute of Frauds, a written contract or agreement must contain a description of the consideration promised.

Question 11

The parol evidence rule refers to the addition of supplementary evidence or conditions that a party wants added to a written contract.

Question 12

Sales of personal property in the amount of $5,000 or more must be in writing.

Question 13

All contracts to sell real property, or any interest in it, must be in writing to be enforceable.

Question 14

All of the following are exceptions that apply to the parol evidence rule except:

A) incomplete contracts.
B) void contracts.
C) contracts that are partly written and partly oral.
D) subsequent oral modifications.

Question 15

The element of proper form requires that certain contracts must be:

A) court-ordered.
B) stamped.
C) in writing.
D) notarized.

Question 16

A contract that obviously cannot be completed within one year may be oral.

Question 17

The parol evidence rule states that any spoken or written words that are in conflict with what the written contract states cannot be introduced as evidence in a court of law.

Question 18

_______________ is one of the essential elements of a valid contract.

A) Legality of purpose
B) Parol evidence
C) A reasonable claim
D) A memorandum of belief

Question 19

Oral evidence introduced after a contract is signed is legally accepted if it clarifies some point in the:

A) oral agreement.
B) verbal agreement.
C) written agreement.
D) implied agreement.

Question 20

It is stated that the terms of a written contract may not be changed by evidence of any prior agreement but may be explained, or supplemented, by the:

A) Uniform Commercial Code (UCC).
B) Statute of Frauds.
C) Parol Evidence Rule.
D) English Law.

Question 21

To be enforceable, agreements in contemplation of marriage:

A) must be in writing and signed after the marriage.
B) must be in writing and signed before the marriage.
C) can be oral if the parties are both over the age of 21 years.
D) should be signed in the presence of witnesses.

Question 22

That certain kinds of contracts should be in writing is a requirement under the:

A) Statute of Frauds.
B) Statute of Principles.
C) Statutes on Employment.
D) Statute on Discrimination.

Question 23

A(n) __________________ has legal authority to arrange for the distribution of the assets of a deceased person.

A) court-appointed executor
B) executor
C) administrator
D) executor or administrator

Question 24

The Statute of Frauds applies only to:

A) administrative contracts.
B) executory contracts.
C) business contracts.
D) notarized contracts.

Question 25

To be enforceable, agreements that cannot be completed in less than one year:

A) must be in writing.
B) can be oral.
C) can be oral only if witnessed.
D) must be oral if for an amount less than $500.

Question 26

An executor is a person:

A) who inherits property from a deceased person.
B) who has drafted the will of the deceased.
C) who is named by a court to judge matters of law.
D) named in a will who serves as the personal representative of a deceased person.

Question 27

The Statute of Frauds only specifies that certain contracts must be in writing to be:

A) beneficial.
B) rewarding.
C) indistinct.
D) enforceable.

Question 28

Most important contracts are printed and signed by hand by the:

A) parties to the agreement.
B) notary who is present.
C) attorney of the parties.
D) judges deciding on the contract.

Question 29

To be enforceable, UCC agreements for the sale of personal property must be in writing if they are for at least:

A) $100.
B) $200.
C) $500.
D) $1,000.

Question 30

All of the following are true of the Statute of Frauds, EXCEPT:

A) the name is taken from the English law of 1677.
B) the name is a derivative of a law called "An Act for Prevention of Frauds and Perjuries."
C) it does not prohibit a person from legally entering into oral contracts.
D) it applies to executory and executed contracts.

Question 31

A(n)______ to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.

A) guaranty
B) warranty
C) memorandum
D) statute

Question 32

An exchange of promises made by persons planning to marry is known as a(n):

A) arranged agreement.
B) self-arranged agreement.
C) mutual agreement.
D) prenuptial agreement.

Question 33

A contracting party intending to authenticate a written agreement may use any symbol as their:

A) acceptance.
B) seal.
C) signature.
D) revocation.

Question 34

Give an example of a contract that does not need to be in writing.

Question 35

In auction sales, in which goods are sold to the highest bidder, the sale is completed at the:

A) fall of the hammer.
B) signing of an agreement.
C) time of delivery of the goods.
D) end of the auction.

Question 36

A(n) _____________ is a personal representative named by the court to perform as the executor would, in instances in which the deceased person has not left a will.

A) judge
B) administrator
C) attorney
D) agent

Question 37

Any agreements to sell an interest in real property must be:

A) approved by a court-appointed judge.
B) in writing unless there has been partial performance.
C) signed in the presence of an administrator.
D) oral or in writing to be enforceable.

Question 38

The web page or e-mail is generally regarded as the writing that satisfies the Statute of Frauds in the case of:

A) auction sales.
B) online sales.
C) implied sales.
D) telephone sales.

Question 39

A memorandum must include all of the following to satisfy the Statute of Frauds, except the:

A) family details of the parties.
B) names of the parties.
C) purpose of the agreement.
D) signatures of the parties.

Question 40

A written contract or agreement that is sometimes called a_____ is required to satisfy the Statute of Frauds.

A) draft.
B) brief.
C) synopsis.
D) memorandum.

Question 41

How is a sale completed if it is made by telephone?

Question 42

Are prenuptial agreements enforceable? Explain why or why not.