Bus Law Ch 10

A contract for the sale of goods for a price of ___________ or more is usually not enforceable without a writing.

$500

If you do not understand something in a contract you are asked to sign, it is a good idea to go ahead and sign the contract anyway, and then you can dispute it later if you need to because you did not understand what you were signing (T/F).

False

The Statute of Frauds (which says that contracts must be in writing to be enforceable) pertains to ALL contracts (T/F).

False

A written clause or contract that can be understood in different ways is

ambiguous

Executors and administrators handle the estates of __________ persons.

deceased

An exception to the writing requirement for a contract for the sale of real property is called part performance.

equitable estoppel

All things that are movable at the time they are made part of a contract for sale.

goods

False statements under oath in court.

perjury

If one person agrees to marry another person in return for a third person's promise of money or property, the agreement does NOT need to be in writing (T/F).

False

The one who drafted the contract is usually favored when ambiguous language exists in a contract (T/F).

False

The person who informs defendants or witnesses that they have been summoned to appear in a legal proceeding is called a process server--CRIMINAL process servers let people know if they are defendants or witnesses in CIVIL cases involving divorce, eviction, foreclosure, landlord-tenant disputes, unpaid bills, or other NON-criminal cases (T/F).

False

The printed terms of a contract prevail over contradictory handwritten terms added later (T/F).

False

The written evidence of an agreement should NOT contain the signature of the party who may be charged on the agreement (T/F).

False

When handwritten terms are included on a typewritten or printed contract, the handwritten terms will prevail because the court will presume that these terms were placed in the writing BEFORE the contract was typed or printed (T/F).

False

State laws requiring that certain contracts be evidenced in writing.

Statute of Frauds

A contract for the sale of goods for the price of $500 or more must be in writing to be enforceable (T/F).

True

A contract that cannot be performed within one year of the date it is made must be in writing (T/F).

True

A promise to pay another person's debts must be in writing to be enforceable (T/F).

True

If a contract contains a lot of complicated or ambiguous language, consider asking a lawyer to review the agreement before you sign it (T/F).

True

If you don't understand something in a contract, cross it out before you sign it. You could also refuse to sign it or ask a lawyer to review the agreement before you sign it (T/F).

True

It is a good idea to read the ENTIRE text of any agreement before you sign it (T/F).

True

Only certain kinds of contracts that are associated with marriage have to be in writing. For example, the promise to adopt a child from a former marriage (T/F).

True

The English Parliament passed a statute in 1677 entitled an "Act for the Prevention of Frauds and Perjuries" which became known as the "Statute of Frauds" which requires that certain contracts must be in writing (T/F).

True

When there is a discrepancy in an amount written in both words and numbers (such as on a check), the amount written in words will prevail over the amount written in numbers (T/F).

True

When two persons agree to marry, they enter into a valid, binding contact wherein the promises they make to each other serve as the consideration for the contract (T/F).

True

The court's requirement that the original copy of a written agreement be submitted into evidence rather than any sort of copy is known as the _________ rule.

best evidence

Courts' requirement that the original copy of a written agreement be submitted into evidence rather than any sort of copy.

best evidence rule

The wrongful failure to perform a promise set forth in a contract is

breach of contract

Wrongful failure to perform one or more promises of a contract.

breach of contract

In most states, when unmarried couples live together (known as __________), they are allowed to make written or oral contracts AND if there is no contract, a court may look at the couple's actions to find out whether an implied contract exist.

cohabitation

The courts usually require that the original copy of a written agreement be submitted into evidence rather than any sort of _______.

copy

Original versions of a written contract given to each party.

duplicate originals

An exception to the requirement that a contract for the sale of real property must be in writing is known as __________ __________, which usually applies when either the buyer or seller makes improvements on the property or changes his or her position in an important way.

equitable estoppel

The enforceability of oral contracts to sell real property when either party makes improvements on the property or changes his or her position in an important way, based on the other's representation.

equitable estoppel

When a buyer relies on an owner's oral promise to sell real property and, as a result, imporves that property, a writing may not be required; this is the doctrine of ___________.

equitable estoppel

Contract in which ________ and ________ of estates agree to pay the debts of deceased persons must be in writing under the Statute of Frauds

executors, administrators

A contract that is not yet fulfilled is

executory

A statute of frauds applies only to __________ contracts.

executory

_________ consist of movable items such as corps, books, cloths, etc.

goods

A person enters into an important real property contract when buying or selling a(n) ___________.

home real estate

Contracts requiring more than a year to perform must be in writing under the Statute of Frauds--in these cases, the year begins on the date when the contract is _________.

made

A(n) ___________ is written evidence, such as a letter or invoice, of an agreement.

memorandum

The written evidence of an agreement, such as a letter, sales slip, invoice, etc.

memorandum

In some instances _________ may be introduced in court to explain a point that is unclear in a written agreement.

parol evidence

Evidence of oral statements made before signing a written agreement is usually not admissible in court to change or contradict the terms of a written agreement.

parol evidence rule

Oral statements made before signing a written contract for the sale of real property is called part performance, or

parol evidence rule

Making a false statement under oath is called ___________.

perjury

When you enter into a contract, do not accept a ____________ of your agreement because such a contract will not be acceptable to the court should you need to pursue legal action.

photocopy

Land and anything permanently attached to it.

real property

When hearing contract dispute cases, the courts generally presume that a written contract contains all of ________ and ________ intended by the parties.

terms, provisions