BA 341 Chapter 11

Tony is the executor of his deceased uncle's estate. The estate has run out of money, so Tony orally agrees to pay his uncle's debts from his own funds to protect the honor of the family. Tony is - not bound by his oral agreement if his work as an executor takes longer than one year. - bound by his oral agreement to pay debts that are less than $500. - not bound by his oral agreement. - bound by his oral agreement.

Not bound by his oral agreement

Under the __________ rule, evidence of oral statements made before signing a written agreement is usually not admissible in court to contradict or change the terms of a written agreement. - equal dignities - primary objective - standard construction - best evidence - parol evidence

Parol evidence

Which of the following does the best evidence rule support in a court? - Oral contracts - Hearsay evidence - Statute of frauds - Parol evidence rule

Parol evidence rule

Which of the following provisions is enforced because the court presumes that the parties will have put everything they agreed to in writing, and hence does not accept evidence of oral statements made before signing the agreement? - Standard construction rule - Equal dignities rule - Best evidence rule - Parol evidence rule

Parol evidence rule

Which of the following is true of verification of online contracts? - Parties are not allowed to customize the verification process for each contract individually. - Parties are mandatorily required to have a verification process that applies to all contracts. - Parties can add a term to delay the creation of the contract until their identities have been verified. - Parties have to verify their identities to the local district court for online contracts to be enforceable.

Parties can add a term to delay the creation of the contract until their identities have been verified.

Which of the following focuses on contracts that involve the sale or lease of computer software, computer databases, interactive products, multimedia products and any other type of computer information? - E-Sign Act - Uniform Computer Information Transactions Act (UCITA) - Fair and Accurate Credit Transactions Act (FACT) - Uniform Electronic Transactions Act (UETA)

Uniform Computer Information Transactions Act (UCITA)

According to the __________ rule, courts accept as evidence only the original of a writing, not a copy. - parol evidence - equal dignities - primary objective - best evidence - standard construction

best evidence

Vicky has a xerox copy of the rental agreement which she signed with her landlord at the time of moving in. Which of the following provisions may not accept Vicky's copy of the agreement, in case the parties go to court? - Standard construction rule - Best evidence rule - Parol evidence rule - Equal dignities rule

best evidence rule

A(n) __________ is one in which two people planning to marry agree to change the property rights they possess by law in a marriage. - prenuptial agreement - leading objective rule - best evidence rule - primary objective agreement - equal dignities rule

prenuptial agreement

According to the __________, if the promise to pay another party's debt is actually made to secure a benefit for the guarantor, there is no need for a writing to enforce the promise. - equal dignities rule - equitable estoppel - standard construction rule - primary objective test - best evidence rule

primary objective test

__________ is an act or promise that must take place or be fulfilled before the other party is obligated to perform his or her part of the agreement. - Oral testimony - Equitable estoppel - Condition precedent - Part performance

Condition precedent

The __________ is a federal act designed to deal with problems associated with cyber-commerce, especially those related to the recognition of electronic contracts and electronic signatures. - Uniform Computer Information Transactions Act - Fair and Accurate Credit Transactions Act - Statutes of Frauds - E-Sign Act - Uniform Facsimile Signatures of Public Officials Act

E-Sign Act

The __________ is the law that requires certain contracts to be in writing to be enforceable. - Parol evidence rule - Promissory estoppel - Statute of Contracts - Statute of Frauds

Statute of Frauds

Which of the following acts states that if the parties to a contract have voluntarily agreed to transact business electronically, the cyber-contract that results will be just as legally acceptable as a paper contract? - The E-Sign Act - The Uniform Computer Information Transactions Act - The Uniform Electronic Transactions Act - The Fair and Accurate Credit Transactions Act

The E-Sign Act

Regarding the statute of frauds, - it covers contracts that contain intentional lies. - it applies to executed and executory contracts. - oral contracts that fall under the statute are void. - a contract written on toilet paper with crayon is acceptable.

a contract written on toilet paper with crayon is acceptable

A(n) __________ is a person appointed to carry out the provisions of a will when an executor cannot do so. - obligee - guarantor - cosigner - administrator - obligor

administrator

The parol evidence rule - says that certain contracts must be in writing to be enforceable. - prohibits the use of oral testimony with regard to a written contract for any purpose. - determines when a convict will be let out of jail. - allows the use of oral testimony to clear up ambiguous parts of a written contract.

allows the use of oral testimony to clear up ambiguous parts of a written contract.

A(n) __________ is an effective method used by businesses to verify the legitimacy of online transactions. - primary objective - preprinted contract - digital signature - acknowledgment - written agreement

digital signature

The __________ rule provides that when a party appoints an agent to negotiate an agreement that must be in writing, the appointment of the agent must also be in writing. - parol evidence - best evidence - standard construction - equal dignities

equal dignities

Under the __________ rule, when an agent is appointed to negotiate an agreement that must itself be in writing, the appointment of the agent must also be in writing. - primary objective - equal dignities - parol evidence - standard construction - best evidence

equal dignities

A person who agrees to pay the debt of another is called a(n) - administrator. - obligee. - guarantor. - assignor. - obligor.

guarantor

Under __________, if the promise to pay another party's debts is actually made to obtain a gain for the guarantor, there is no need for a writing to enforce the promise. - main purpose test - part performance - collateral contract - equitable estoppel

main purpose test

A person who owes an original debt is called a(n) - obligee. - obligor. - cosigner. - administrator. - guarantor.

obligor

The __________ rule guides the entire interpretation process by directing the interpreter of a contract to determine the principal objective of the parties in the making of the contract. - best evidence - standard construction - equal dignities - parol evidence

standard construction