Homework Assigned June 13, 2012 (Chapter 14 )

Due prior to class Monday June 18, 2012

10 question, 10 pts each.

1.
a.
b.

100 pts

When we say a contract falls within the Statute of Frauds, that means
the contract must be in writing to be enforceable.
the contract is enforceable, even if it is oral.

2.
Tyrone and Will orally agree that Tyrone will buy Wills motorcycle for
$1,000, motorcycle and cash to be exchanged on Friday at noon. On Friday at
noon, Tyrone hands Will $1,000 in cash and Will gives Tyrone his motorcycle.
Later that night, Will regrets selling his motorcycle for $1,000 and decides to
dispute the contract because it was not in writing. Will Will be successful?
a. yes
b. no
3.
Which of the following is (are) interests in land, for purposes of the Statute
of Frauds?
a.
contract for a five month lease (majority of states)
b.
contract to construct an office building on unimproved land
c.
earthquake insurance policy
d.
easement
4.
Beatrice and Belinda agree that Beatrice will construct a guest house on
Belindas property and that Beatrice shall have up to two full years to complete the
construction. Because of weather conditions where Belinda lives, it is not possible
to build a guest house in less than one year. Must this contract be in writing to be
enforceable?
a.
yes
b.
no
5.
What is an exception to the general rule that a contract to pay the debt of
another must be in writing?
a.
if all three parties are related to each other
b.
if the contract to pay the debt is for less than a year
c.
if the person promising to pay the debt of another has a financial interest in
the loan being granted.
d.
there is no exception, all such contracts must be in writing.

6.

What is the UCCs rule for what types of contracts must be in writing?
a.
all contracts for the sale of goods must be in writing under the UCC.
b.
there is no requirement that a contract be in writing under the UCC.
c.
all contracts for the sale of goods over $500 must be in writing under
the UCC.
d.
only contracts between merchants must be in writing under the UCC.

7.
A writing that the parties intend to be the final and complete written
expression of their agreement is called:
a.
an integrated contract or integration clause
b.
parol evidence
c.
a statue of frauds contract
d.
an executor contract
8.
If a contract is intended as a complete and final expression of the parties
agreement, parol evidence may be admitted to
a.
prove something that was said before the contract was made.
b.
prove something that was written before the contract was made.
c.
explain an ambiguity in the contract.
d.
all of the above.
9.

A contract that must be in writing pursuant to the Statute of Frauds

a.
must be signed by both parties using their cursive handwritten
signatures.
b.
must have the signatures be notarized.
c.
must have the signatures be witnessed.
d.
None of the above are accurate.

10.

A contract for a mortgage loan on a piece of real property

a.
must be in writing to be enforceable
b.
is admissible parol evidence
c.
does not need to be in writing to be enforceable
d.
only has to be in writing to be enforceable if it is an integrated
document.