Question 1

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​ 
A) ​a correct title, such as "Land Transfer" or "Real Estate Agreement." 
B) ​a declaration of the contract's purpose. 
C) ​a statement of the source of financing. 
D) ​a description of the land.

Accepted Answer

In most states, a written contract for the sale of land must include a description of the land being sold. While it is also important for the contract to include other details such as the title and purpose of the contract, and the source of financing, these are not typically required for the contract to be enforceable.

Question 2

Lucas orally agrees to sell his Mountain Spring Beverage Company to Natural Soft Drinks,Inc.Lucas notes the terms on a sheet of Mountain Spring stationery and signs it.This agreement is most likely enforceable against​ 
A) ​no one. 
B) ​Lucas and Natural Soft Drinks. 
C) ​Lucas. 
D) ​Natural Soft Drinks.

Accepted Answer

The answer of Lucas orally agrees to sell his Mountain...

Question 3

In a transaction for the sale of a warehouse,Standard Storage Company tells TriCounty Investment Corporation that the office furniture is included.The contract says nothing about office furniture,but does state,"This document supersedes all oral promises relating to the sale." Is the furniture part of the sale? Why or why not?​

Accepted Answer

The answer of In a transaction for the sale of...

Question 4

Evermore Corporation and Trendy Goods,Inc.,enter into a contract.To be enforceable,the contract must include​ 
A) ​no particular signatures. 
B) ​the signatures of all parties to the deal. 
C) ​the signature of the party against whom enforcement is sought. 
D) ​the signature of the party who is seeking enforcement.

Accepted Answer

The Statute of Frauds requires that a contract must be signed by the party against whom enforcement is sought to be enforceable.

Question 5

Fact Pattern 15-3Odell and Paula sign a contract for the sale of Odell's Pizza Parlor to Paula. The parties intend their written contract to be a final statement of most, but not all, of the terms of their agreement-Odell must first buy the building from Quin, after which Odell and Paula will negotiate a final price.
-Refer to Fact Pattern 15-3.The writing that Odell and Paula signed is a contract that is​ 
A) ​completely integrated. 
B) ​conditionally integrated. 
C) ​partially integrated. 
D) ​supplementally integrated.

Accepted Answer

The writing that Odell and Paula signed is a partially integrated contract because while it is a complete expression of most of the terms, it is not a complete expression of all of the terms since the final price is subject to negotiation after Odell buys the building from Quin.

Question 6

Fact Pattern 15-2Kelly and Lucas sign a written contract for the sale of Kelly's Koffee Kiosk to Lucas. The parties intend their written contract to be a final statement of the terms of their agreement.
-Refer to Fact Pattern 15-2.Lucas later disputes some of the provisions of the deal with Kelly.If the dispute results in litigation,a court will most likely exclude evidence that​ 
A) ​buttresses the written terms. 
B) ​contradicts the written terms. 
C) ​duplicates the written terms. 
D) ​reinforces the written terms.

Accepted Answer

The parol evidence rule states that if parties have a written contract that they intend to be a complete and final expression of their agreement, evidence of prior or contemporaneous oral or written agreements cannot be introduced to contradict, vary, or add to the terms of the written contract. Therefore, evidence that contradicts the written terms of the contract will likely be excluded by the court.

Question 7

Donald and Etta orally agree on the sale of Donald's Electrical Supplies Company to Etta and jot down the terms on the back of one of Donald's blank invoices,which they both sign.A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain​ 
A) ​every term. 
B) ​the essential terms. 
C) ​the preliminary terms. 
D) ​the qualitative terms.

Accepted Answer

A written memorandum evidencing an oral contract only needs to contain the essential terms of the agreement, which are the crucial elements needed to form a binding contract, such as the subject matter, price, and payment terms. The preliminary or qualitative terms are not necessary for the enforceability of the contract, and including every detail in the memorandum is not required. Therefore, choice B is the best option.

Question 8

Fact Pattern 15-2Kelly and Lucas sign a written contract for the sale of Kelly's Koffee Kiosk to Lucas. The parties intend their written contract to be a final statement of the terms of their agreement.
-Refer to Fact Pattern 15-2.The writing that Kelly and Lucas signed is a contract that is​ 
A) ​completely integrated. 
B) ​conditionally integrated. 
C) ​agreeably integrated. 
D) ​obviously integrated.

Accepted Answer

The fact that the parties intend their written contract to be a final statement of the terms of their agreement suggests that the contract is completely integrated, meaning that it represents the parties' entire understanding and agreement on the subject matter of the contract.

Question 9

Fact Pattern 15-3Odell and Paula sign a contract for the sale of Odell's Pizza Parlor to Paula. The parties intend their written contract to be a final statement of most, but not all, of the terms of their agreement-Odell must first buy the building from Quin, after which Odell and Paula will negotiate a final price.
-Refer to Fact Pattern 15-3.Paula later disputes some of the provisions of the deal with Odell.If the dispute results in litigation,a court will most likely admit evidence of additional terms that are​ 
A) ​ambiguous. 
B) ​consistent. 
C) ​contradictory. 
D) ​clear.

Accepted Answer

The court will likely admit evidence of additional terms that are consistent with the written contract, but not contradictory to it. Since the parties intended the contract to be a final statement of most, but not all, of the terms, evidence of consistent additional terms may be necessary to fully interpret the contract. Ambiguous and contradictory terms would only add to the dispute, and clear terms would not require additional evidence.

Question 10

Waterfront Hotels Corporation in Boston offers a job to Carol,who lives in Denver.Carol orally agrees to work for Waterfront for two years.She moves her family to Boston and begins work.Three months later,she is fired for no stated cause.She files a suit against the employer for reinstatement or pay.Waterfront pleads the lack of a written contract.In whose favor is the court likely to rule,and why?​

Accepted Answer

The answer of Waterfront Hotels Corporation in Boston offers a...

Question 11

Daisy files a suit against Elton to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds.The court could enforce such a contract if​ 
A) ​Daisy foreseeably and justifiably relied on Elton's promise to her detriment. 
B) ​Elton denies the existence of any contract. 
C) ​neither party has begun to perform. 
D) ​the deal does not involve customized goods.

Accepted Answer

The doctrine of promissory estoppel may be applied in situations where enforcing an oral contract would otherwise be barred by the Statute of Frauds. To qualify for promissory estoppel, the plaintiff must demonstrate that they relied on the defendant's promise to their detriment, and that it would be unjust to allow the defendant to go back on their promise. Therefore, if Daisy can show that she reasonably relied on Elton's promise, the court may enforce the oral contract under the doctrine of promissory estoppel.

Question 12

Ulrich files a suit against Vern 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​ 
A) ​an orally agreed-on condition precedent. 
B) ​terms discussed before the contract but not contained in it. 
C) ​terms discussed at the time of the contract that contradict the written terms. 
D) ​nothing.

Accepted Answer

The answer of Ulrich files a suit against Vern to...

Quiz 15: Written Contracts

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​

Lucas orally agrees to sell his Mountain Spring Beverage Company to Natural Soft Drinks,Inc.Lucas notes the terms on a sheet of Mountain Spring stationery and signs it.This agreement is most likely enforceable against​

Evermore Corporation and Trendy Goods,Inc.,enter into a contract.To be enforceable,the contract must include​

Donald and Etta orally agree on the sale of Donald's Electrical Supplies Company to Etta and jot down the terms on the back of one of Donald's blank invoices,which they both sign.A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain​

Fact Pattern 15-2Kelly and Lucas sign a written contract for the sale of Kelly's Koffee Kiosk to Lucas. The parties intend their written contract to be a final statement of the terms of their agreement. -Refer to Fact Pattern 15-2.The writing that Kelly and Lucas signed is a contract that is​

Daisy files a suit against Elton to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds.The court could enforce such a contract if​

Ulrich files a suit against Vern 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​

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

Lucas orally agrees to sell his Mountain Spring Beverage Company to Natural Soft Drinks,Inc.Lucas notes the terms on a sheet of Mountain Spring stationery and signs it.This agreement is most likely enforceable against

Evermore Corporation and Trendy Goods,Inc.,enter into a contract.To be enforceable,the contract must include

Donald and Etta orally agree on the sale of Donald's Electrical Supplies Company to Etta and jot down the terms on the back of one of Donald's blank invoices,which they both sign.A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Fact Pattern 15-2Kelly and Lucas sign a written contract for the sale of Kelly's Koffee Kiosk to Lucas. The parties intend their written contract to be a final statement of the terms of their agreement. -Refer to Fact Pattern 15-2.The writing that Kelly and Lucas signed is a contract that is

Daisy files a suit against Elton to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds.The court could enforce such a contract if

Ulrich files a suit against Vern 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