law test #4 chapter 15

integrated contract

the written contract is intended to be a complete and final statement of the terms of the agreement. extraneous evidence (evidence derived from sources outside the contract itself) is excluded.

deligation

transfer of duties

assignment

transfer of rights

Signed by the party to be charged

usually only one person orders through writing and another confirms over phone. If this goes to court will this be enforceable in court? It depends who is suing. If the guy who wrote it is being sued, he's going to lose. If the guy who didn't write it being sued, he will probably win.

how to satisfy the statute of frauds

A written contract will satisfy the writing requirement of the Statute of Frauds. A written memorandum (written or electronic evidence of the oral contract) signed by the party against whom enforcement is sought will also satisfy the writing requirement. The signature need not be placed at the end of the document but can be anywhere in the writing; it can even be initials rather than the full name. electronic signatures, such as a person's name typed at the bottom of an e-mail message, generally satisfy the Statute of Frauds.

exceptions to the parol (oral) evidence rule:

1. subsequently modification 2. Voidable contracts- Oral evidence can be introduced in all cases to show that the contract was voidable or void 3. ambiguous contracts need oral testimony to clarify 4. incomplete contracts- if there's a blank, you can fill it in with oral testimony 5. Prior dealing, course of performance, or usage of trade 6. SKIP 7. Typographical error. Math error

contracts involving interests in land: when are they enforceable?

A contract calling for the sale of land is not enforceable unless it is in writing or evidenced by a written memorandum. Land is real property

guarantor

he is guaranteeing to the bank that he will pay back the loan if his mother fails to do so—and has incurred a secondary obligation. This kind of collateral promise, in which the guarantor states that he or she will become responsible only if the primary party does not perform, must be in writing to be enforceable.

Baumann promises to pay Villard $10,000 if Villard marries Baumann's daughter.

Because the promise is in consideration of marriage, it must be in writing to be enforceable.

The One-Year Rule

Contracts that cannot, by their own terms, be performed within one year from the day after the contract is formed must be in writing to be enforceable.

writing satisfaction:

Simpson orally agrees to sell some land next to a shopping mall to Terro Properties. Simpson gives Terro an unsigned memo that contains a legal description of the property, and Terro gives Simpson an unsigned first draft of their contract. Simpson sends Terro a signed letter that refers to the memo and to the first and final drafts of the contract. Terro sends Simpson an unsigned copy of the final draft of the contract with a signed check stapled to it. Together, the documents can constitute a writing sufficient to satisfy the Statute of Frauds and bind both parties to the terms of the contract as evidenced by the writings

contract for the sale of goods priced at $500 or more

Statute of Frauds provisions that require written evidence or an electronic record of a contract for the sale of goods priced at $500 or more.

promise to answer for the debt of another when the main purpose in incurring a secondary obligation is to secure a personal benefit.

This type of contract need not be in writing.

Collateral promises

a collateral promise is one made by a third party to assume the debts or obligations of a primary party to a contract if that party does not perform. someone cosigns so that if you stop paying your bills, the cosigner will pay them. The agreement to pay someone else's bill is a collateral promise. If it looks like the cosigner is cosigning for his own benefit, then an oral cosign is ok.

prenuptial agreements

agreements made before marriage that define each partner's ownership rights in the other partner's property. A couple might make such an agreement if, for example, a prospective wife wishes to limit the amount her prospective husband can obtain if the marriage ends in divorce. Prenuptial agreements must be in writing to be enforceable

Suppose that Marie guarantees to pay Frank any debts Joe incurs with Frank. Marie makes this guarantee because she knows that if she doesn't do it, Joe will run up debt with Frank and be forced to declare bankruptcy. If Joe does that, he will be less able to pay Marie back what he owes her. Which legal principle tells you if this contract needs to be in writing? a. The nuptial rule b. The main purpose rule c. The postpartum rule d. The evidentiary rule

b. The main purpose rule

Which of the following requires that a contract for the sale of goods priced at $500 or more must be writing to be enforceable? a. The COPA b. The NAACP c. The UCC d. The FDA

c. The UCC. The Uniform Commercial Code (UCC) requires contracts for the sale of goods priced at $500 or more to be in writing to be enforceable.

Evidence of prior negotiations, prior agreements, or contemporaneous oral agreements that contradict or vary the terms of a written contract may not be introduced into a trial. This is known as: a. the Statute of Frauds. b. the applicability rule. c. the parol evidence rule. d. the lynchpin rule.

c. the parol evidence rule.

Dillon struggles with his algebra class and, in July, decides that he needs to get a tutor for the next school year. He persuades Vonda to tutor him. They discuss Vonda's fee and hours, and agree that the arrangement will last for the entire school year. Under the Statute of Frauds, this contract: a. must be in writing based on the one-year rule. b. must be in writing under the Uniform Commercial Code (UCC). c. must be in writing because it is collateral. d. does not need to be in writing.

d. does not need to be in writing. Because this contract will take less than one year to perform, it need not be in writing to be enforceable. This contract is for a service, not the sale of goods. See "Contracts That Fall within the Statute of Frauds" for reference.

Under the common law, a memorandum evidencing an oral contract must include: a. the quantity term only. b. a signature only. c. the delivery terms only. d. the essential terms.

d. the essential terms. Under the common law, a memorandum must include the essential terms when it evidences an oral contract.

Suppose that Vonda contracts with Dillon to work for Dillon for one academic year (nine months). Under the Statute of Frauds: a. this contract must be in writing based on the one-year rule. b. this contract must be in writing based on an interest in scholarship. c. this contract must be in writing based on the collateral contract at stake. d. this contract does not need to be in writing.

d. this contract does not need to be in writing.

The Statute of Frauds refers to: a. all tort actions for fraud. b. those tort actions that involve fraud in the press. c. contract actions for fraud. d. those contracts that must be in writing to be enforceable.

d. those contracts that must be in writing to be enforceable.

The parol (oral) evidence rule:

the written agreement is to be preferred over your oral testimony.