BLaw 10

Fred orally agrees to buy Barney's "Times Beach" riverfront cabin. Fred gives Barney a check for $1,000 as a down payment, moves into the cabin, and completely rehabs the kitchen, bathroom, living room, and dock. Classify the contract(s) contained in the above example (by extent of performance, formality, and method of creation) -- assume that the check clears! Does this contract have to be in writing in order to be enforceable in court? Yes or no and EXPLAIN!! Sale of realty and over 500 dollars

! formality and by extent of performance

The statute of frauds has no effect on oral agreements which have been executed. Additionally, contracts subject to the statute of frauds are not illegal if oral; they are simply not enforceable. 6. Identify specifically two types of agreements that fall within the statute of frauds.

(1) Agreements of over 500 dollars (2) A real property lease of over one year

Define & give one example of a "contract of adhesion."

A take it or leave it contract

A contract that must be in writing in order to be enforceable in court is said to be "within" the

Statute of Frauds

"contract of adhesion" is illegal (a void agreement) and therefore unenforceable in court.

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A contract that has been fully performed is called an "executory" contract, while one that still has contractual obligations yet to be completed is called an "executive" contract.

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Most contracts, even those that may be quite complex in nature, tend to be simple. A "formal" contract is a written contract that is required to be in some "special form" to be enforceable.

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Oral leases for a period of one year or less need not be in writing in order to be enforceable.

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The least demanding common law content standard merely requires that the writing indicate the existence of a contract.

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The three methods in which a contract can be created are as follows: "express" - where the parties convey intent by written or spoken words; implied in fact- where the parties convey intent through their actions; and "quasi" - which is a(n) court created contract in order to prevent unjust enrichment by one party -- the circumstances dictate that parties should be bound as in a valid contract

implied in fact-

Under the U.C.C., the content standard requires that the writing must indicate two things: and that a contract has been created between the two parties. Generally speaking, if you are going to enforce an agreement against another party, a court will require that that party's namesake be contained in/on the contract.

namesake

bars evidence of prior or contemporaneous (made at the same time) oral or written agreements related to the written contract being disputed if these agreements were not mentioned or included in the written contract itself. Often, a contract will include this statement -"it is agreed that the terms written here constitute the entire and final contract between the parties" -this is an example of a(n) integration clause.

parol evidence rule

When someone promises to pay the debt of another it is called a collateral or secondary promise. When that collateral promise is made orally, and directly benefits the person making the promise (the secondary promisor) - it is nonetheless binding due to the main purpose rule.

secondary main purpose

A series of letters or a detailed memorandum may be used as evidence of writing to satisfy the statute of frauds.

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The statute of frauds has no effect on oral agreements which have been executed. Additionally, contracts subject to the statute of frauds are not illegal if oral; they are simply not enforceable.

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Where a pre-printed (typeset) form is used, added typewritten provisions will prevail over contradictory typeset provisions, and added handwritten ones will prevail over both the typeset (pre-printed) and the "added" typewritten ones. Furthermore, when a number is contained in a contract (written in the form of a figure and in words) and the figure ($101.00) conflicts with the words (one hundred and ten dollars) - the words will prevail.

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