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Exam 15: The Statute of Fraudswriting Requirement

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Question 1

Multiple Choice

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Pumps Inc. agrees to assume a debt of Quality Parts Company to Reliable Finance LP. The agreement is not in writing. To be enforceable, the promise must be for the benefit of

A) all of the choices.
B) Pumps.
C) Quality.
D) Reliable.

E) A) and B)
F) C) and D)

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Question 2

Multiple Choice

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Elena offers to invest a certain amount in Fran's business if Fran marries Elena's son Glen. This promise is enforceable

A) only if it is in writing.
B) only if the amount of the investment is more than $500.
C) only if Glen agrees to marry Fran.
D) under no circumstances.

E) B) and C)
F) A) and C)

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Question 3

True/False

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An oral sales contract for goods priced at less than $500 is unenforceable.

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

An agreement that involves an option to buy real property need not be in writing for the option to be enforced.

Char and Dill sign a written contract for the sale of Dill's BBQ Food Truck to Char. The parties intend their written contract to be a final statement of the terms of their agreement. Later, Dill disputes some of the provisions in the deal with Char. If the dispute results in litigation, a court will most likely exclude evidence that

Reliance on a certain type of oral contract can be enough to remove it from the Statute of Frauds.

Ranchland Properties and Prairie State Investments sign a written contract for a sale of land. In some states, to be enforceable, this contract must include

Representatives of Oil Inc. and Petro Corporation discuss the terms of a contract for shipments of refined oil. Petro e-mails Oil a note that summarizes the points on which they agreed. Between these parties, there is

Fred agrees to assume a debt owed by Guitars Inc. to Home Bank. The agreement is not in writing. To be enforceable under the "main purpose" rule, the promise must be for the benefit of

A contract for the sale of land does not ordinarily include physical objects attached to the real property, such as buildings, fences, and trees.

Builders Corporation files a suit against Concrete Company to enforce a written contract. If the court finds that the parties intended the contract to be the final statement of their agreement, parol evidence can be admitted to prove

Nate promises to pay for medical services provided by Otto to Polly. Nate receives no personal benefit for the promise. To be enforceable, the promise must be in writing if

According to most states' laws, to be enforceable as a contract under the Statute of Frauds, a writing must

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

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

ActioNOW and Becca enter into an oral contract in which Becca agrees to work on a project for ActioNOW for eighteen months. This contract is enforceable by

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

Rye agrees to sell his Taco Delight restaurant to Sati. The parties intend their written contract to be a final statement of the terms of their agreement. Later, the parties dispute some of the provisions. In litigation, Sati offers evidence to contradict the written terms. Most likely, the court will

Hardware Store Company and Indestructible Tools Inc. sign a written contract for a sale of goods. To be enforceable, this written contract must include