CH 16 Busi Law

Grain Co-op, LLC and Hearty Cereals, Inc., discuss the terms of a contract for periodic deliveries of corn. Grain faxes Hearty a memo on Grain's letterhead that summarizes the points on which they agreed, including a two-year term. Grain begins to perform, and Hearty accepts the deliveries but refuses to pay. Refer to Fact Pattern 16-1. Between Grain and Hearty, there is​

a written contract

Marketing, Inc., and Nature's Foods Corporation (NFC) discuss a contract. They exchange "signed" e-mails that summarize the terms on which they agree. Marketing begins to perform, but Nature's refuses to pay. Between Marketing and Nature's, the e-mails are

a written contract

Air Flo, Inc., and Banyan Grove Apartments enter into an oral contract in which Air Flo agrees to provide air-conditioning and heating maintenance for Banyan Grove's facilities for two years. This contract is enforceable by

none of the choices.

Eleanor offers Flossy the amount of an investment in Flossy's start-up business venture if she marries Eleanor's son Glen. This promise is enforceable

only if it is in writing.

Ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for Coding Associates for one year for $5,000 per month, starting at the beginning of next month. To be enforceable, a writing is required for

the employment agreement

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

the essential terms

Maya and Nick enter into a contract. To be enforceable, the contract must include

the signature of the party against whom enforcement is sought.

A written contract that is intended to be the final statement of the terms of an agreement is an integrated contract.

true

Alain and Brie sign a contract for the sale of Alain's Patisserie to Brie. The parties intend their written contract to be a final statement of most, but not all, of the terms of their agreement—Alain must first buy the building from Commercial Properties, Inc., after which Alain and Brie will agree on a price. Refer to Fact Pattern 16-3. Brie later disputes some of the provisions of the deal with Alain. If the dispute results in litigation, a court will most likely admit evidence of additional terms that are​

Consistent

A party's oral agreement to pay another's debt is never enforceable.

False

A primary obligation is a promise to pay another's debt only if that party fails to pay.​

False

Under the Statute of Frauds, all contracts must be in writing to be enforceable except those involving insignificant transactions.

False

Pumps, Inc., agrees to assume a debt of Quality Parts Company to Reliable Finance LP. The agreement is not in writing. To be enforceable, the promise must be for the benefit of

Pumps

Merl buys a tablet for $500, running shoes for $200, and a set of the Game of Crowns books for $100. To be enforceable as a contract, a writing is required for the purchase of

The tablet only

A contract in which a party assumes a secondary obligation normally must be in writing to be enforceable.

True

A contract must be in writing to be enforceable if its performance is impossible within one year.

True

A prenuptial agreement must be in writing to be enforceable.

True

An oral contract may be enforceable if there is no way to avoid injustice except to enforce the promise.

True

Most nations do not require contracts to be in writing to be enforceable.

True

To be enforceable, a memorandum evidencing an oral contract must include the essential terms.

True