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
