BLAW Ch14

Section​ _____ of the Uniform Commercial Code is the basic​ _____ provision for sales contracts.

2-201 (1); Statute of Frauds

Which of the following is an INCORRECT statement regarding a life​ estate?

A life estate need not be in writing in order to be enforceable.

The Uniform​ _____ Code establishes statutes of fraud for contracts for the sale and lease of goods.

Commercial

_____ is an equitable doctrine that allows the court to order an oral contract for the sale of land or transfer of another interest in real property to be specifically performed if it has been partially performed and performance is necessary to avoid injustice.

Part performance

​_____ property includes the land​ itself, as well as buildings and fixtures.

Real

Under the​ _____, a unilateral promise to pay money or property in consideration for a promise to marry must be in writing.

Statue of Frauds

Which of the following is an INCORRECT statement regarding the​ one-year rule of the statute of​ frauds?

The​ one-year rule of the statute of frauds is per se unconscionable.

Both the​ ___________________ and the​ _______ permit several writings to be integrated to form a single written contract.

common law of​ contracts; UCC

A​ _____ contract occurs when one person agrees to answer for the debts or duties of another person.

guaranty

In a guaranty​ situation, the​ _____ contract is between the person who agrees to pay the debt if the primary debtor does not and the original creditor.

guaranty

According to the​ _____ exception to the Statute of​ Frauds, if the main purpose of a transaction and an oral collateral contract is to provide pecuniary benefit to the​ guarantor, the collateral contract does not have to be in writing to be enforced.

leading object

A(n) _____ clause in a contract stipulates that it is a complete integration and the exclusive expression of the​ parties' agreement.

merger

Borrowers often give a lender an interest in real property as security for the repayment of a loan. This action must be done through the use of a written​ _____ or deed of​ _____.

mortgage; trust

According to the​ _____, if a written contract is a complete and final statement of the​ parties' agreement, any prior or contemporaneous oral or written statements that​ alter, contradict, or are in addition to the terms of the written contract are inadmissible in court regarding a dispute over the contract.

parol evidence rule

Under which of the following circumstances is parol evidence inadmissible in​ court?

when the parol evidence conflicts with the terms of the written contract

The Statute of Frauds and the UCC require​ a(n) ________​ contract, whatever its​ form, to be signed​ ____________.

written; by the party against whom enforcement is sought

Section​ _____ of the Uniform​ _____ Code is the Statute of Frauds provision that applies to the​ _____ of goods.

​2A-201(1); Commercial; lease

Which of the following is NOT a typical category of contracts that must be in writing according to the Statute of​ Frauds?

contracts that by their own terms cannot possibly be performed within thirty days

According to the Statute of​ Frauds, an​ _____ contract that cannot be performed by its own terms within​ _____ of its formation must be in writing.

executory; one year

Certain types of contracts must be in writing pursuant to the Statute of​ _____.

frauds

Where this doctrine of promissory estoppel​ applies, the promisor is​ ______________ the Statute of Frauds as a defense to the enforcement of the​ _________________.

prevented from​ raising; oral contract

In a guaranty​ situation, the​ _____ contract is between the debtor and the creditor.

primary

The version of promissory estoppel in the Restatement​ (Second) of Contracts provides that if parties enter into an oral contract that should be in writing under the Statute of​ Frauds, the oral promise is enforceable against the promisor if certain conditions are met. Which of the following is NOT one of these​ conditions?

the promise was in writing

Generally, an executory contract that is not in writing even though the Statute of Frauds requires it to be is​ _____ by​ _____.

unenforceable; either party

Which of the following is NOT a typical category of contracts that must be in writing according to the Statute of​ Frauds?

contracts for services

Which of the following is NOT a typical category of contracts that must be in writing according to the Statute of​ Frauds?

contracts for the sale of goods for less than​ $500

Many state Statutes of Frauds require that​ agents' contracts to sell real property covered by the Statute of Frauds be in writing to be enforceable. The requirement is often referred to as the​ _____ rule.

equal dignity

The parties to a written contract may include a clause stipulating that the contract is a complete integration and the exclusive expression of their agreement and that​ ____________may not be introduced to​ explain, alter,​ contradict, or add to the terms of the contract. This type of clause is known as a ​ ___________clause, or​ a(n) _____________ clause.

parol​ evidence; merger; integration