Question 1

The Statute of Frauds does not allow the integration of documents.

Accepted Answer

The Statute of Frauds allows the integration of documents to create a binding contract, provided that the essential terms are contained within the documents and they are signed by the parties involved.

Question 2

The "part performance" exception to the Statute of Frauds allows a court to partially enforce any oral contract that is required to be in writing under the Statute of Frauds.

Accepted Answer

The "part performance" exception typically applies to oral contracts for the sale of land, not to all types of contracts under the Statute of Frauds.

Question 3

Many state Statutes of Frauds require that agents' contracts to sell real property covered by the Statute of Frauds be in writing to be enforceable.This requirement is often referred to as the equanimity rule.

Accepted Answer

The requirement for agents' contracts to sell real property to be in writing is part of the Statute of Frauds, but it is not referred to as the "equanimity rule."

Question 4

Integration may be by an express reference in one document that refers to and incorporates another document within it.This procedure is called ratification by reference.

Accepted Answer

The correct term for this procedure is "incorporation by reference," not "ratification by reference."

Question 5

The Statute of Frauds section involving promises in consideration of marriage requires prenuptial agreements to be in writing in order to be enforceable.

Accepted Answer

The Statute of Frauds does require prenuptial agreements to be in writing in order to be enforceable.

Question 6

To be sufficient under the Statute of Frauds,only original,handwritten signatures in ink are considered acceptable.

Accepted Answer

While original, handwritten signatures in ink are preferred for evidentiary purposes, the Statute of Frauds does not require them to be the only acceptable form of signature. Electronic signatures, stamps, and other forms of authentication may also be considered sufficient as long as they indicate the signer's intent to be bound by the agreement.

Question 7

Mike hires Stephen to paint his house.The contract stipulates that Mike will provide the paint and equipment and that Stephen will provide the labor for which he will be paid $1,000.This contract must be in writing according to the Statute of Frauds.

Accepted Answer

The Statute of Frauds requires certain contracts to be in writing, such as those involving real estate, contracts that cannot be performed within a year, or goods over a certain value. A contract for services like painting, which can be completed within a year, does not typically need to be in writing.

Question 8

Generally,an executory contract that is not in writing even though the Statute of Frauds requires it to be is unenforceable by either party.

Accepted Answer

This is because the Statute of Frauds requires certain contracts, such as those concerning the sale of real estate and goods over a certain value, to be in writing in order to be enforceable. If a contract falls within the Statute of Frauds but is not in writing, it cannot be enforced by either party, even if they have already performed some or all of their obligations under the contract.

Question 9

If there is an ambiguity in a contract,the ambiguity will be resolved against the party who drafted the contract.

Accepted Answer

This is known as the doctrine of contra proferentem, meaning "against the proferent", which holds that any ambiguity in a contract should be interpreted against the party who drafted or proposed the language.

Question 10

Because of the formality required by the Statute of Frauds,a contract must have been drafted by an attorney in order to meet the Statute of Frauds requirements.

Accepted Answer

It is not necessary for a contract to be drafted by an attorney to meet the Statute of Frauds requirements. The important thing is that the contract meets the requirements specified by the statute, such as being in writing and signed by both parties. However, it may be helpful to have an attorney review or draft the contract to ensure that it meets legal requirements and protects the parties' interests.

Question 11

The one-year rule under the Statute of Frauds measures the year from the time of contract formation and not from the time that performance of the contract begins.

Accepted Answer

The one-year rule under the Statute of Frauds measures the period from the time of contract formation to the time the contract is completed or can be performed, and it does not start from the time performance of the contract begins. Therefore, the statement is true.

Question 12

Guaranty contracts are not required to be in writing under the Statute of Frauds.

Accepted Answer

Guaranty contracts are required to be in writing under the Statute of Frauds.

Question 13

Consistent with judicial standards of interpretation,where a preprinted form contract is used,handwritten words prevail over both preprinted and typed words.

Accepted Answer

This is known as the rule of contra proferentem, which means that any ambiguity in a contract should be resolved against the party who drafted the contract. In the case of a preprinted form contract, the party who drafted the contract is typically the party with more bargaining power, and therefore the rule helps to protect the party with less bargaining power.

Question 14

A collateral promise occurs when the person making the promise agrees to be liable for the debt of another person.

Accepted Answer

A collateral promise is a promise to be liable for the debt of another person, even if the primary debtor does not pay. This type of promise creates a secondary obligation to pay the debt if the primary debtor defaults.

Question 15

Fred and Barney enter into a sales contract for $400.Subsequently,they modify the contract and the modification adds $400 more to the contract.Neither the original contract nor the modification need be in writing.

Accepted Answer

The answer of Fred and Barney enter into a sales...

Question 16

Although the common law of contracts permits several writings to be integrated to form a single written contract,the Uniform Commercial Code (UCC)does not.

Accepted Answer

The common law of contracts allows for several writings to be integrated to form a single written contract, but the UCC does allow for this as well. This is known as the "four corners" rule, which means that the terms of the contract are contained within the four corners of the document. However, the UCC does recognize additional terms that may be included through trade usage or course of dealing.

Question 17

Consistent with judicial standards of interpretation,where a preprinted form contract is used,preprinted words prevail over typed words.

Accepted Answer

In contract interpretation, typed or handwritten words typically prevail over preprinted words because they are considered to reflect the specific intentions of the parties involved.

Question 18

As long as other requirements are met,a writing may satisfy the Statute of Frauds even if it is on a paper towel.

Accepted Answer

The Statute of Frauds generally requires certain contracts, such as those for the sale of real property, to be in writing. However, the statute does not dictate the specific form or medium of the writing, as long as it meets the other requirements (such as identifying the parties, describing the subject matter, and including signatures). Therefore, a writing on a paper towel could potentially satisfy the Statute of Frauds if it meets these criteria.

Question 19

To be sufficient under the Statute of Frauds,a writing must be signed by both parties to the contract.

Accepted Answer

A writing may be sufficient under the Statute of Frauds if it is signed by the party against whom enforcement is sought or by their authorized agent, but it does not necessarily need to be signed by both parties to the contract.

Question 20

When interpreting a contract with contradictory language,a specific term will take precedence over a conflicting general provision.

Accepted Answer

This is a recognized principle in contract interpretation, known as "specificity trumps generality." Courts will generally give more weight and enforce a specific term over a general provision if there is a conflict, because the specific term is thought to reflect the parties' more specific intentions and negotiations.

Quiz 12: Genuineness of Assent and Statute of Frauds