BUL 4421 FINAL - FAU GENDLER PART
2 EXAM
VI. CHAPTER 18: Contracts in Writing - Correct Answers -VI. CHAPTER 18: Contracts
in Writing
Statute of Frauds - Correct Answers -State laws requiring certain types of contracts
must be in writing to be enforceable.
Statute of Frauds is intended to: (3) - Correct Answers -1. Ease contractual negotiations
by *requiring sufficient* reliable evidence to prove the existence and specific *terms of a
contract.*
2. *Prevent unreliable oral evidence* from interfering with a contractual relationship.
3. *Prevent* parties from entering into *contracts in which they do not agree.*
Therefore, contracts must - Correct Answers -a) Contain specific terms
b) Be in writing
c) Parties must agree
Contracts falling within the Statute of Frauds (MYLEGS): - Correct Answers -1.
Promises made in a consideration of *Marriage.*
2. Contracts whose terms prevent possible performance within one *Year.*
3. Contracts related to an interest in *Land.*
4. Contracts where *Executor* of estate promises to pay the debt of an estate with the
executor's own money.
5. Under the Uniform Commercial Code, contracts for the sale of *Goods* totaling more
than $500.
6. Contracts for one party to pay the debt of another if the initial party fails to pay
(*Surety*/Cosignor)
*MY LEGS*
Prenuptial Agreement - Correct Answers -An agreement two parties enter into before
marriage that clearly states the ownership rights each party enjoys in the other party's
property.
Prenuptial Agreement must have - Correct Answers -a writing to be enforceable
Exceptions to Statute of Frauds: Partial Performance in a land-sale contract. - Correct
Answers -If the buyer in an alleged contract for the sale of land has:
-*paid any portion* of the sale price, has
- *begun to permanently improve the land,* and/or
-taken *possession* of it,
, the courts will consider the contract partially performed and this partial performance
may amount to proof of the contract despite the lack of a formal writing sufficient to
satisfy the statute of frauds.
Sufficiency of the writing generally requires (5) - Correct Answers -1. The *names* of
the parties to the contract
2. The *subject matter* of the agreement
3. The *consideration* given for the contract
4. All *relevant contractual terms*
5. The *signature of at least the party against whom enforcement is sought*
Land-sale contracts require additional terms such as: - Correct Answers -identifying the
land with a degree of specificity
to smooth transactions by limiting the types of evidence admissible in claims that
contract writing is in some way deficient, courts rely heavily on - Correct Answers -parol
evidence rule
Parol Evidence Rule - Correct Answers -A common law rule stating that oral evidence of
an agreement made prior to or contemporaneously with the written agreement is
inadmissible when the parties intend to have a written agreement.
the purpose of parol evidence rule is to - Correct Answers -prevent evidence that
substantially contradicts the agreement in its written form
under parole evidence rule, _______ are typically excluded - Correct Answers -prior
agreements and negotiations, as well as contemporaneous agreements and
negotiations.
once a fully integrated agreement has been written - Correct Answers -no oral evidence
of any prior contemporaneous agreement can be admitted in court to change the terms
of the agreement.
Parol evidence exceptions: (8) - Correct Answers -1. contracts that have been
subsequently modified
2. contracts conditioned on orally agreed-on terms
3. nonfinalized, partially written and partially oral contracts
4. contracts containing ambiguous terms
5. incomplete contracts
6. contracts with obvious typographical errors
7. void or voidable contracts
8. Evidence of prior dealings or usage of Trage (UCC)
Integrated Contracts - Correct Answers -*Written contracts within the statute of frauds
intended to be the complete and final representation* of the parties' agreement thus
2 EXAM
VI. CHAPTER 18: Contracts in Writing - Correct Answers -VI. CHAPTER 18: Contracts
in Writing
Statute of Frauds - Correct Answers -State laws requiring certain types of contracts
must be in writing to be enforceable.
Statute of Frauds is intended to: (3) - Correct Answers -1. Ease contractual negotiations
by *requiring sufficient* reliable evidence to prove the existence and specific *terms of a
contract.*
2. *Prevent unreliable oral evidence* from interfering with a contractual relationship.
3. *Prevent* parties from entering into *contracts in which they do not agree.*
Therefore, contracts must - Correct Answers -a) Contain specific terms
b) Be in writing
c) Parties must agree
Contracts falling within the Statute of Frauds (MYLEGS): - Correct Answers -1.
Promises made in a consideration of *Marriage.*
2. Contracts whose terms prevent possible performance within one *Year.*
3. Contracts related to an interest in *Land.*
4. Contracts where *Executor* of estate promises to pay the debt of an estate with the
executor's own money.
5. Under the Uniform Commercial Code, contracts for the sale of *Goods* totaling more
than $500.
6. Contracts for one party to pay the debt of another if the initial party fails to pay
(*Surety*/Cosignor)
*MY LEGS*
Prenuptial Agreement - Correct Answers -An agreement two parties enter into before
marriage that clearly states the ownership rights each party enjoys in the other party's
property.
Prenuptial Agreement must have - Correct Answers -a writing to be enforceable
Exceptions to Statute of Frauds: Partial Performance in a land-sale contract. - Correct
Answers -If the buyer in an alleged contract for the sale of land has:
-*paid any portion* of the sale price, has
- *begun to permanently improve the land,* and/or
-taken *possession* of it,
, the courts will consider the contract partially performed and this partial performance
may amount to proof of the contract despite the lack of a formal writing sufficient to
satisfy the statute of frauds.
Sufficiency of the writing generally requires (5) - Correct Answers -1. The *names* of
the parties to the contract
2. The *subject matter* of the agreement
3. The *consideration* given for the contract
4. All *relevant contractual terms*
5. The *signature of at least the party against whom enforcement is sought*
Land-sale contracts require additional terms such as: - Correct Answers -identifying the
land with a degree of specificity
to smooth transactions by limiting the types of evidence admissible in claims that
contract writing is in some way deficient, courts rely heavily on - Correct Answers -parol
evidence rule
Parol Evidence Rule - Correct Answers -A common law rule stating that oral evidence of
an agreement made prior to or contemporaneously with the written agreement is
inadmissible when the parties intend to have a written agreement.
the purpose of parol evidence rule is to - Correct Answers -prevent evidence that
substantially contradicts the agreement in its written form
under parole evidence rule, _______ are typically excluded - Correct Answers -prior
agreements and negotiations, as well as contemporaneous agreements and
negotiations.
once a fully integrated agreement has been written - Correct Answers -no oral evidence
of any prior contemporaneous agreement can be admitted in court to change the terms
of the agreement.
Parol evidence exceptions: (8) - Correct Answers -1. contracts that have been
subsequently modified
2. contracts conditioned on orally agreed-on terms
3. nonfinalized, partially written and partially oral contracts
4. contracts containing ambiguous terms
5. incomplete contracts
6. contracts with obvious typographical errors
7. void or voidable contracts
8. Evidence of prior dealings or usage of Trage (UCC)
Integrated Contracts - Correct Answers -*Written contracts within the statute of frauds
intended to be the complete and final representation* of the parties' agreement thus
