BUSINESS FOR LAW CHAPTER 11 QUESTIONS: WRITTEN CONTRACTS

*5.)Under what circumstances is the STATUTE OF FRAUDS requirement of a writing a unnecessary when a person agrees to be responsible for the debt of another?*

*-when the main purpose of the promise is to gain some advantage for the promisor.*

*3.)Give 3 examples of contracts not involving the sale of land, but only an interest in the land, that the STATUTE OF FRAUDS requires to be in writing.*

*1.) One may wish to sell not the land itself, but only an interest in the land.* *2.)Joint use of driveways, mineral rights, or timber.* *3.)A lease or real property for more than one year*

*2.)Under what circumstances will the courts allow enforcement or an oral contract required by the STATUTE OF FRAUDS to be in writing?*

*1.)An agreement to sell land or any interest in or concerning land.* *2.)An agreement the terms of which cannot be performed within one year from the time it is made.* *3.)An agreement to become responsible for the debts or default of another.* *4.)An agreement of an executor or administrator to pay the debts of the estate from the executor's or the administrator's personal funds.* *5.)An agreement containing a promise in consideration of marriage.* *6.)An agreement to sell goods for $500 or more.*

*7.)What must be included in a note or memorandum required by the STATUTE OF FRAUDS?*

*The note or memorandum required by the Statute of frauds must include ALL THE ESSENTIAL TERMS OF THE CONTRACT.*

*6.)When a party sues to enforce an alleged contract, what is the requirement of the STATUTE OF FRAUDS regarding the evidence of an agreement of the parties to an alleged contract?*

*When a party sues to enforce an alleged contract, the Statute of Frauds requires that the agreement of the parties be evidenced either by a writing signed by both parties, or that there be a note or memorandum in writing signed by the party against whom the claim for breach of contract is made.*

*9.)When will the parol evidence rule permit modification of a written contract that appears to be complete, by another writing made before or at the time of executing the contract?*

*When the contract refers to other writings and indicates they are considered as incorporated into contract.* -*If the contract is not complete.* -If the contract is ambiguous and there is no oral evidence that can clear up the ambiguity, the contract is constructed against the party who wrote it.

*4.)If David agrees in consideration of $1,000 to mow his elderly neighbors lawn "for as long as she lives next door to him," does the contract have to be in writing? Why or Why not?*

-*No, the contract does not have to be in writing because there is no certainty David's neighbor will live one year.*

*8.)How does a memorandum differ from a written contract?*

-*The chief difference between a memorandum and a written contract is that one may introduce oral testimony to explain or complete the memorandum.* -*The memorandum need not be made at the time the contract is executed.* -->It only needs to be in existence at the time suit is brought, so it must have been executed by then. -*The one who signs the memorandum need not sign with the intention of being bound.*

*1.)What advantages does a written contract have over an oral contract?*

-A written contract has advantages over oral contract, provided it includes all the terms and provisions of the agreement. -*The existence of a contract cannot be denied if it is in writing.* *If there were no witnesses when an oral contract was formed, one of the parties might successfully deny that any contract was made.* -The terms of the contract can be ascertained. -One of the parties to an oral contract might die or become incompetent and, therefore, be unable to testify as to the terms of an oral contract. *Written evidence, composed in clear and unambiguous language, is more reliable than oral evidence.*

*10.)Under what circumstances will courts admit oral evidence to add to or modify a written contract?*

*-If the omission is due to FRAUD, ALTERATION, TYPOGRAPHICAL ERROR, DURESS, OR OTHER SIMILAR CONDUCT, oral testimony may be produced to show such conduct.*