Question 1

The equitable doctrine that permits enforcement of oral contracts that should have been in writing is known as:

Accepted Answer

The equitable doctrine that permits enforcement of oral contracts that should have been in writing is promissory estoppel. This doctrine is used when one party has reasonably relied on the other party's promise and suffered harm or losses as a result, even though the promise was not in writing as required by law.

Question 2

Which of the following is NOT one of the general rules of contract interpretation?

Accepted Answer

This is not one of the general rules of contract interpretation. The correct general rules are A, C, D, and E, which state that ordinary words are interpreted according to their ordinary dictionary definition, handwritten words control over preprinted words, ambiguities are construed against the party who drafted the contract, and technical words are given their technical meaning.

Question 3

The primary significance of requiring only the signature of the party "against whom enforcement is sought" under the Statute of Frauds is that:

Accepted Answer

The Statute of Frauds requires that certain contracts be in writing and signed by the party against whom enforcement is sought. This means that the signature of the party seeking to enforce the contract is not required for the contract to be enforceable, as long as the other party has signed. It does not concern itself with the court reviewing signatures or penalizing parties for failure to sign, or allowing evidence from outside the contract.

Question 4

The exception to the Statute of Frauds,which allows an oral contract for the transfer of land to be enforced,if the buyer has either paid for the land or taken possession of the land is called the ________ exception.

Accepted Answer

The exception described in the question is known as the part performance exception to the Statute of Frauds. It allows for an oral contract for the transfer of land to be enforced if the buyer has either paid for the land or taken possession of the land, or made substantial improvements to the land. This exception is intended to prevent unjust enrichment or fraud in cases where one party has already partially performed their obligations under the oral agreement. Choices A, B, C, and E are all related to other legal concepts and do not apply to the exception described in the question.

Question 5

The Statute of Frauds requires that certain types of contracts:

Accepted Answer

The Statute of Frauds requires that certain types of contracts be in writing in order to be enforceable, such as contracts for the sale of real property, contracts for the sale of goods over $500, and contracts that cannot be performed within one year. It does not require that the contract be in writing to be valid. Option C is incorrect because not all contracts require a promise for an act. Option D is incorrect because there is no requirement for attorneys to be present at the signing of a contract.

Question 6

Incorporation by reference in a contract means that:

Accepted Answer

Incorporation by reference in a contract means that the written contract includes all or part of another document as part of the written contract's terms. This allows for terms from another document to be included in the contract without having to rewrite them.

Question 7

In a guaranty arrangement,the guarantor:

Accepted Answer

In a guaranty arrangement, the guarantor promises to pay the debt of another if that other person does not pay. This means that the guarantor acts as a backup plan for the creditor in case the debtor defaults on the loan. The guarantor is not obligated to pay the debt in any circumstance, but only if it is not paid by the debtor.

Question 8

Which of the following constitutes a sufficient signature under the Statute of Frauds?

Accepted Answer

The answer of Which of the following constitutes a sufficient...

Question 9

An oral contract in which Sally agrees to work for Jane for the rest of Jane's life is:

Accepted Answer

An oral contract for lifetime employment is enforceable because it is possible for the contract to be completed within one year if Jane were to pass away within that time frame.

Question 10

A contract for the sale of land:

Accepted Answer

According to the Statute of Frauds, a contract for the sale of land must be in writing in order to be enforceable.

Question 11

For Statute of Frauds purposes,an interest in land includes:

Accepted Answer

The Statute of Frauds requires certain contracts, including those regarding interests in land, to be in writing. An interest in land includes not only the land itself, but also fixtures (items attached to the land), mortgages, leases, easements, and life estates. Insurance contracts on interests in land are not considered interests in land for Statute of Frauds purposes. Therefore, the best choice is D, which includes fixtures and the various types of interests in land.

Question 12

The Statute of Frauds:

Accepted Answer

The Statute of Frauds makes certain contracts unenforceable unless they are in writing. This includes contracts for the sale of goods over a certain value, contracts for the sale of real property, contracts that cannot be completed within one year, and contracts in which one party agrees to pay the debt of another. It does not make a contract illegal or voidable, and it is not specifically designed to protect minors.

Question 13

The 1-year period for determining whether a contract is required to be in writing under the Statute of Frauds is measured from the date that:

Accepted Answer

The 1-year period under the Statute of Frauds is measured from the date the contract is formed until its stated completion date. If the contract cannot be performed within one year from the date of formation, it must be in writing to be enforceable.

Question 14

The part performance exception for contracts involving the sale of an interest in land provides that which of the following is true?

Accepted Answer

The part performance exception for contracts involving the sale of an interest in land means that the contract will be enforced despite the fact that it is not in writing if there has been partial performance of the contract. This exception exists to prevent fraud and injustice that may result from parties attempting to avoid their contractual obligations by refusing to put them in writing. Therefore, option B is correct. The parol evidence rule may still apply, multiple parties may still need to share performance obligations, and once a contract has been partially performed, it is not required to be put in writing. Option E is also incorrect because the part performance exception specifically allows for partial performance of a contract that has not been put in writing.

Question 15

When a contract for the sale of goods is modified such that the total price due under the contract is modified,under what circumstances must the agreement to modify be in writing?

Accepted Answer

Under the UCC, a contract for the sale of goods must be in writing if the price is $500 or more. If a modification results in a new contract price of $500 or more, it must be in writing.

Question 16

Which of the following contracts is required to be in writing under the Statute of Frauds?

Accepted Answer

The answer of Which of the following contracts is required...

Question 17

A contract must be in writing under the Statute of Frauds if:

Accepted Answer

The Statute of Frauds requires a contract to be in writing if it cannot be performed within 1 year according to its terms.

Question 18

Under the Statute of Frauds:

Accepted Answer

The Statute of Frauds allows for incorporation by reference, meaning multiple documents can be used together to satisfy the writing requirement if they are clearly related.

Question 19

What does the parol evidence rule do?

Accepted Answer

The parol evidence rule limits the ability of parties to a written contract from introducing certain evidence related to the contract. It provides that if parties have reduced their agreement to a final writing, they cannot introduce evidence of prior or contemporaneous understandings or agreements that contradict, modify or vary the terms of the writing.

Question 20

What does the "equal dignity rule" require?

Accepted Answer

The "equal dignity rule" requires that the contract of an agent to sell property covered by the Statute of Frauds must be in writing for the sale of the property to be enforceable. This means that if an agent is selling property that requires a written contract under the Statute of Frauds, the agent's contract with the seller must also be in writing with the same level of formality. This ensures that both parties to the contract are on the same level of legal footing and have equal enforceable rights.

Quiz 14: Statute of Frauds and Equitable Exceptions