Question 1

A party's signature must be at the end of a writing for the writing to constitute an enforceable contract.

Accepted Answer

This statement is false. While a signature is typically required for a contract to be enforceable, it does not have to be at the very end of the writing. As long as the signature is placed in a location that demonstrates an intent to be bound by the terms of the contract, the contract may still be enforceable.

Question 2

Alice and Bart enter into a contract for the sale of Canyon Ranch. To be enforceable, this contract must be
A) substantiated by reliable, external evidence.
B) signed in a sufficient manner by both parties.
C) in writing or evidenced by a written memorandum.
D) complete and with all possible terms.

Accepted Answer

Under the Statute of Frauds, contracts for the sale of real estate must be in writing or evidenced by a written memorandum to be enforceable.

Question 3

Air Flo, Inc., and Banyan Grove Apartments enter into an oral contract in which Air Flo agrees to provide air-conditioning and heating maintenance for Banyan Grove's facilities for two years. This contract is enforceable by
A) Air Flo.
B) Banyan Grove.
C) any third party, such as a HVAC supplies provider.
D) none of the choices.

Accepted Answer

Contracts that cannot be performed within one year must be in writing to be enforceable under the Statute of Frauds. Since this contract is for two years and is oral, it is not enforceable.

Question 4

If a party against whom enforcement of an oral contract is sought admits under oath that a contract for sale was made, the contract will be enforceable.

Accepted Answer

An admission under oath can serve as evidence to support the existence of an oral contract, making it enforceable.

Question 5

Oral evidence cannot be introduced at a trial to "fill in the gaps" of a contract with incomplete terms.

Accepted Answer

The answer of Oral evidence cannot be introduced at a...

Question 6

An oral contract may be enforceable if the person making the promise could foresee that the promisee would rely on the promise.

Accepted Answer

This is known as promissory estoppel, where someone makes a promise and the other party relies on it, causing them harm if the promise is not kept. In such cases, courts may enforce the promise even if it was not in writing. However, the exact requirements for promissory estoppel vary between jurisdictions.

Question 7

Ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for Coding Associates for one year for $5,000 per month, starting at the beginning of next month. To be enforceable, a writing is required for
A) the appointment for the haircut.
B) the purchase of the bike.
C) the employment agreement with Coding Associates.
D) none of these.

Accepted Answer

The answer of Ben makes an appointment for a $50...

Question 8

Parol evidence is testimony or other evidence about communications between the parties not contained in the written contract.

Accepted Answer

Parol evidence refers to any oral or written statements not included in the written contract, used to clarify or add to the terms of the contract.

Question 9

An integrated contract is a contract with more than one subject or part.

Accepted Answer

An integrated contract is one that is intended by the parties to be a final and complete expression of their agreement, not necessarily one with multiple subjects or parts.

Question 10

When the terms of a written contract are ambiguous, parol evidence is admissible to show the meaning of the terms.

Accepted Answer

Parol evidence is allowed to clarify ambiguities in a written contract by providing context or additional information about the parties' intentions.

Question 11

Any confirmation, invoice, sales slip, check, or e-mail may constitute a writing that satisfies the Statute of Frauds.

Accepted Answer

Any of these documents can serve as evidence of a contract or transaction and can meet the requirements of the Statute of Frauds, which requires certain contracts to be in writing and signed in order to be enforceable.

Question 12

Ray agrees to buy one hundred pounds of almonds from Sol. To be enforceable, the agreement must be in writing if the almonds cost at least
A) $50.
B) $250.
C) $499.
D) $500.

Accepted Answer

Under the Statute of Frauds, contracts for the sale of goods worth $500 or more must be in writing to be enforceable. As the agreement involves one hundred pounds of almonds, it falls into the category of sale of goods and the price exceeds $500, making it necessary to be in writing. Hence, the answer is D.

Question 13

To be enforceable, a memorandum evidencing an oral contract must include the essential terms of the contract.

Accepted Answer

A memorandum must include essential terms to provide a clear understanding of the agreement and to satisfy the Statute of Frauds, which requires certain contracts to be in writing to be enforceable.

Question 14

To satisfy the UCC's Statute of Frauds, a writing need only state the price term.

Accepted Answer

The UCC's Statute of Frauds requires a writing to indicate a contract has been made and must include a quantity term, not just the price.

Question 15

A written contract or a written memorandum signed by the party who seeks to enforce it will satisfy the Statute of Frauds.

Accepted Answer

This is generally true for most situations covered under the Statute of Frauds, including contracts for the sale of goods over $500, contracts that cannot be performed within one year, contracts involving real estate, and contracts for the sale of securities. However, there are some exceptions and specific requirements for each type of contract, so it is important to check the applicable laws and regulations for each situation.

Question 16

Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the land. Under the Statute of Frauds, the agreement between Duane and Evan is enforceable by
A) Duane or Evan.
B) Duane, Evan, or Finance Bank.
C) Finance Bank.
D) none of the choices.

Accepted Answer

The Statute of Frauds requires certain contracts, including contracts for the sale of real property, to be in writing to be enforceable. Since Duane and Evan only made an oral agreement, it is not enforceable under the Statute of Frauds. Therefore, none of the choices have legal standing to enforce the agreement.

Question 17

An oral contract may be enforceable if there is no way to avoid injustice except to enforce the promise.

Accepted Answer

This is the principle of promissory estoppel, which allows for the enforcement of an oral contract in certain circumstances where it would be unjust not to do so. However, the requirements for promissory estoppel to apply can vary by jurisdiction.

Question 18

A written contract must consist of a single document to constitute an enforceable contract.

Accepted Answer

A written contract can consist of multiple documents, as long as they are all incorporated and referenced in the agreement as part of the overall contractual terms.

Question 19

In some states, an otherwise unenforceable oral contract may be enforced under the doctrine of promissory estoppel.

Accepted Answer

Promissory estoppel is a doctrine that allows for the enforcement of a promise or agreement made by one party to another, even if that promise is not supported by consideration. In some states, this doctrine can be used to enforce an otherwise unenforceable oral contract.

Question 20

An oral contract that should be in writing to be enforceable under the Statute of Frauds may be enforceable if it has been partially performed.

Accepted Answer

Partial performance of an oral contract that falls under the Statute of Frauds can serve as evidence of an agreement and make the contract enforceable even if it wasn't in writing initially. However, this exception may vary depending on the jurisdiction, and it's best to consult with a lawyer to understand the limitations and requirements.

Quiz 14: Written Contracts