Question 1

&#8203; Courts will always permit spoken words to add to or modify the terms of a written contract that appears to be complete.

Accepted Answer

Courts typically adhere to the parol evidence rule, which generally prohibits the use of oral statements to contradict, vary, or add to the terms of a written contract that appears to be complete and final.

Question 2

&#8203; Which of the following is true of the parol evidence rule?&#10;A)It allows a written contract to be modified by oral testimony if there is evidence of fraud.&#10;B)It assumes that an oral contract represents the complete agreement.&#10;C)It rules out oral testimony as a way to edit a written contract in any situation.&#10;D)It involves making modifications to an oral testimony if there is proof of accident or error.

Accepted Answer

The parol evidence rule generally prohibits the use of oral testimony or extrinsic evidence to contradict, vary, or add to the terms of a written contract. However, there are exceptions to this rule, such as when there is evidence of fraud, which allows for oral testimony to modify or affect the written contract.

Question 3

The Statute of Frauds requires a written memorandum to contain all information on one piece of paper.

Accepted Answer

The Statute of Frauds requires that certain contracts be in writing to be enforceable, but it does not stipulate that all information must be on one piece of paper. The key elements of the agreement must be in writing and signed by the party against whom enforcement is sought, but these elements can be spread across multiple documents.

Question 4

Which of the following constitutes an exception to the Statute of Frauds requirement that a contract be in writing?&#10;A)The promise to pay one's own debt, rather than a promise to pay the debt or another&#10;B)An executor contracting to pay the debts of a deceased person's estate from his or her personal funds&#10;C)An agreement the terms of which cannot be performed within one year from the time it is made&#10;D)An agreement to sell land

Accepted Answer

The Statute of Frauds requires certain contracts to be in writing, such as those involving the sale of land or agreements that cannot be performed within a year. However, a promise to pay one's own debt does not fall under these requirements and thus does not need to be in writing.

Question 5

The Statute of Frauds recognizes electronic signatures as legally enforceable. &#8203;

Accepted Answer

The Statute of Frauds requires certain types of contracts to be in writing to be enforceable, and modern interpretations and laws, such as the Electronic Signatures in Global and National Commerce Act (E-SIGN Act) in the United States, recognize electronic signatures as satisfying this requirement.

Question 6

According to the Statute of Frauds, an agreement to sell goods for $500 or more must be in writing. &#8203;

Accepted Answer

The Statute of Frauds requires that certain types of contracts, including contracts for the sale of goods priced at $500 or more, must be in writing to be enforceable. This requirement is outlined in the Uniform Commercial Code (UCC) Section 2-201 for transactions involving goods.

Question 7

&#8203; The parol evidence rule assumes that a written contract represents the complete agreement.

Accepted Answer

The parol evidence rule is a legal principle that presumes a written contract embodies the complete and final agreement between the parties, thereby excluding any prior or contemporaneous oral or written agreements not included in the contract.

Question 8

&#8203; What is the Statute of Frauds?&#10;A)It is a law requiring certain contracts to be oral.&#10;B)It is a law requiring certain contracts to be put in writing.&#10;C)It is a law prohibiting both active and passive fraud.&#10;D)It is a law prohibiting contracts made under duress.

Accepted Answer

The Statute of Frauds is a legal concept that requires certain types of contracts to be in writing in order to be enforceable. This includes contracts for the sale of real estate, contracts that cannot be performed within one year, and contracts for the sale of goods over a certain value, among others.

Question 9

&#8203; Under the Statute of Frauds, a written note or memorandum may suffice if it is signed by the party against whom the claim for breach of contract is made.

Accepted Answer

The Statute of Frauds requires certain types of contracts to be in writing and signed by the party to be charged with the breach, indicating that a written note or memorandum that is signed can indeed satisfy the statute's requirements.

Question 10

Parol evidence refers to: &#8203;&#10;A)a written memorandum.&#10;B)spoken words.&#10;C)a writ of certiorari.&#10;D)a default. &#8203;

Accepted Answer

Parol evidence refers to spoken words or oral agreements that are not included in a written contract. It is often discussed in the context of the parol evidence rule, which limits the use of oral statements in interpreting written contracts.

Question 11

The Statute of Frauds states that the memorandum must contain more essential terms than the written contract. &#8203;

Accepted Answer

The answer of The Statute of Frauds states that the...

Question 12

Every state has an identical list of types of contracts required by law to be in writing in order to be enforceable. &#8203;

Accepted Answer

The answer of Every state has an identical list of...

Question 13

A lease of real property for less than one year must be in writing in order to be binding. &#8203;

Accepted Answer

The answer of A lease of real property for less...

Question 14

&#8203; Default refers to:&#10;A)a breach of any contractual obligation.&#10;B)an oral testimony to perform an obligation.&#10;C)a written rule that may not be modified.&#10;D)an obligation to pay money.

Accepted Answer

The answer of &#8203; Default refers to:&#10;A)a breach of any...

Question 15

All contracts must be in writing to be enforceable. &#8203;

Accepted Answer

The answer of All contracts must be in writing to...

Question 16

When a party sues to enforce an alleged contract that falls under the Statute of Frauds, the law requires that:&#10;A)the contract be evidenced by signatures on paper and not electronic signatures.&#10;B)the contract be evidenced by a writing signed by a maximum of one party.&#10;C)there be a note in writing signed by the party against whom the claim for breach of contract is made.&#10;D)the note required by the Statute of Frauds must set forth all the material terms of the transaction in case of the sale of goods.

Accepted Answer

The answer of When a party sues to enforce an...

Question 17

The Statute of Frauds' requirement of writing applies if the main purpose of the promise is to gain some advantage for the promisor. &#8203;

Accepted Answer

The answer of The Statute of Frauds' requirement of writing...

Question 18

What is the parol evidence rule? Explain. &#8203;

Accepted Answer

The answer of What is the parol evidence rule? Explain....

Question 19

Which of the following is an advantage of a written contract over an oral one?&#10;A)Written contracts are always enforceable.&#10;B)The existence of a contract cannot be denied if it is in writing.&#10;C)All contracts of importance must be in written form.&#10;D)Putting a contract in writing eliminates all mistakes.

Accepted Answer

The answer of Which of the following is an advantage...

Question 20

Which of the following types of agreements according to the Statute of Frauds need to be in writing?.&#10;A)An agreement to sell goods for $499 or less&#10;B)An agreement to rent an apartment for one month&#10;C)An agreement in which the terms can be performed within one year from the time it is made&#10;D)An agreement containing a promise in consideration of marriage

Accepted Answer

The answer of Which of the following types of agreements...

Deck 11: Written Contracts