Question 1

Oral modifications are inadmissible and unenforceable if a contract's terms require that modification be in writing.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is true about contracts that have been subsequently modified?

Accepted Answer

A)   Parol evidence contradictory to the final terms is admissible.
B)   Parol evidence regarding a contract's subsequent modification is inadmissible.
C)   If the agreement is required to be in writing because it is within the statute of frauds, oral modifications are unenforceable.
D)   Oral evidence of a subsequent written agreement is inadmissible.
E)   If the contract's terms require that modification be in writing, oral modifications are admissible.F) B) and E)
G) A) and B)

Question 3

A[n] ________ clause is one way parties can indicate their desire to create an integrated contract.

Accepted Answer

A)   Complete
B)   Merger
C)   Adhesion
D)   Bilateral
E)   AcknowledgedF) A) and B)
G) A) and D)

Question 4

In 1677, the English Parliament passed the ________.

Accepted Answer

A)   Act to Prevent Unjust Contracts
B)   Prevention of Frauds Act
C)   Perjury Prevention Act
D)   Act for the Prevention of Frauds and Perjuries
E)   Act of the Queen against FraudsF) All of the above
G) A) and C)

Question 5

[Courtroom Surprises] Alexandra agrees to sell Rishi her house for $200,000. Alexandra, Rishi, and the house are all located in Tennessee. She also orally agrees to sell her used car to Rishi for $1,000. Alexandra and Rishi discuss the fact that the house needs some repairs. Alexandra gives Rishi a key and tells him to do whatever he wants with the house. In reliance on her promise to sell the house, Rishi sells his home, gets a loan, and has a new roof put on Alexandra's house because of leaks that needed to be repaired to prevent further damage. When presented with the written agreements of sale for the home and the car, however, Alexandra refuses to sign either. Rishi sues, and the case proceeds to trial. Alexandra tells the judge in court under oath that she orally agreed to sell the house but that she changed her mind before signing and that she believes she has protection under the statute of frauds. She tells the judge that no agreement was ever made regarding the car and that she also has protection under the statute of frauds regarding that matter.
-Regarding Alexandra's statement to the judge under oath that she orally agreed to sell the house, which of the following is true?

Accepted Answer

A)   The statement has no effect because of the statute of frauds.
B)   The statement would be excluded from consideration as parol evidence but only because it involved an amount in excess of $5,000.
C)   The judge would be estopped from considering the evidence.
D)   The statement would be classified as an admission and would establish an exception to the statute of frauds involving the agreement on the house.
E)   The statement would be excluded from consideration because of the collateral interest rule.F) C) and E)
G) All of the above

Question 6

What types of contracts does the statute of frauds require to be in writing? Include in your answer contracts, if any, the UCC requires to be in writing.

Accepted Answer

The types of contracts for which the sta...

Question 7

[Awesome tuners] Trace owns a music store. At a recent convention, he meets Terrill, who makes electronic guitar tuners. Terrill gives Trace a free sample and tells Trace that his guitar tuners are $20 each. Trace says he definitely wants to buy some and he will email the quantity. After the convention, Terrill emails Trace stating, "Do you still want to buy some tuners?" Trace replies, "Yes! 30 please!" However, Terrill never sends the tuners. Trace tells him they had a deal and that Terrill needs to send the tuners. Terrill, who went to business school, tells Trace that the UCC requires contracts for the sale of goods over $500 to be in writing, and his email reply doesn't satisfy the statute of frauds.
-Trace claims that one of the contract terms is the $20 price per tuner. Is he correct?

Accepted Answer

A)   Yes, but only if there is another writing with the $20 price per tuner.
B)   Yes, because the written agreement was conditioned on the $20 per tuner oral agreement.
C)   No, because he failed to include price in the writing.
D)   No, because the parol evidence rule prevents parties from introducing oral evidence when there is a written contract.
E)   No, because no exception applies to the parol evidence rule.F) None of the above
G) C) and D)

Question 8

While testifying on the stand in his breach of contract suit, Constantine admitted that he sold land to Felipe. This is known as a(n)  ________.

Accepted Answer

A)   confirmation
B)   perjury
C)   deposition
D)   admission
E)   acknowledgmentF) C) and D)
G) C) and E)

Question 9

Which of the following was the result in the case in the text Sewing v. Bowman, involving the issue of whether an agreement to share in the profits of the land, such as appreciation in the value of the properties and rental income, came within the statute of frauds?

Accepted Answer

A)   The court ruled that the land constituted an asset of the partnership, so the partnership agreement did not come within the statute of frauds.
B)   The court ruled that the agreement did involve an interest in land and, therefore, came within the statute of frauds.
C)   The court ruled that the agreement did not involve an interest in land but placed it within the statute of frauds in order to prevent injustice.
D)   The court ruled that the agreement fell within the statute of frauds but that an oral agreement was sufficient.
E)   The court ruled that the agreement to share in the appreciation of the value of the land did not fall within the statute of frauds and that no writing was needed, but that the agreement to share the rental income did fall within the statute of frauds requiring a writing.F) A) and D)
G) B) and C)

Question 10

Which of the following statements is true about the statute of frauds and e-commerce?

Accepted Answer

A)   Statutes that addressed electronic transactions have been around for years.
B)   The Uniform Electronic Transactions Act was enacted as law in 2000.
C)   The Uniform Electronic Transactions Act was adopted as law in only half of all states.
D)   The Uniform Electronic Transactions Act adopts the requirements of the statute of frauds regarding the validity of online transactions.
E)   The Uniform Electronic Transactions Act reflects the decision that particular electronic transactions may constitute a "written copy" and therefore have legal significance.F) A) and E)
G) A) and C)

Question 11

"Statute of Frauds" is a title in the United States Code of Laws.

Accepted Answer

A) True 
 B)False

Question 12

________ is the term for contracts within the statute of frauds involving promises to pay a debt of another if the initial party fails to pay.

Accepted Answer

A)   Promissory estoppel
B)   Elementary promises
C)   Debt reconciliation
D)   Debtor's friend
E)   Secondary obligationF) C) and D)
G) A) and C)

Question 13

The legal enforcement of an otherwise unenforceable contract due to a party's detrimental reliance on the contract is known as ________.

Accepted Answer

A)   promissory estoppel
B)   substantial estoppel
C)   the promissory rule
D)   the reliance rule
E)   promissory relianceF) A) and E)
G) None of the above

Question 14

In the "parol evidence rule," what does the term "parol" mean?

Accepted Answer

A)   Words establishing penalties
B)   Speech or words, specifically words outside the original writing
C)   Oral speech as opposed to written words
D)   Written words as opposed to oral speech
E)   Signature requiredF) All of the above
G) A) and E)

Question 15

Which of the following is false regarding written contracts?

Accepted Answer

A)   Disputes are easier to settle when contractual terms are solidified in writing.
B)   The moment of writing allows both parties to reconsider terms and ensure what they desire.
C)   In general, written contracts aid in the conduct of smooth business contracts.
D)   The idea of requiring a writing comes from an English law.
E)   All contracts must be in writing in order to be enforced.F) A) and E)
G) C) and D)

Question 16

[RV and bike deal] For his retirement, Milton wants to rent an RV and spend the summer travelling out West. Milton stops by Rudi's RV Heaven and Rudi tells him that he could rent an RV for the summer for $6,000. Milton, who had already researched rental costs, told Rudi he would agree to the price and also wanted to buy two of the bicycles Rudi showed him that were $100 each. Milton and Rudi shook hands and Milton said he would return the next day. When Milton returned, Rudi had the bicycles ready to go, but told Milton that the price for the RV was $8,000, not $6,000. Milton tells him that he cannot change the price because they had an enforceable agreement. Milton also tells him that he will not buy the bicycles, but Rudi tells him the agreement about the bicycles is enforceable and he wants Milton to pay him.
-Does the agreement to rent the RV for $6,000 fall outside the statute of frauds and, thus, would likely be enforceable against Rudi?

Accepted Answer

A)   No, because the agreement is for the sale of goods over $500, which is within the statute of frauds and must be in writing.
B)   No, because the agreement involved the lease of goods and must be in writing.
C)   Yes, because the agreement involved the lease of goods, which need not be in writing
D)   Yes, because the contract can be performed within one year.
E)   No, because the contract may not be performed within one year.F) A) and B)
G) B) and C)

Question 17

Within the statute of frauds, the ________ is an exception as to when a secondary obligation does not need to be in writing.

Accepted Answer

A)   primary-purpose rule
B)   resulting-fact rule
C)   main-purpose rule
D)   delineated rule
E)   personal-obligation standardF) A) and C)
G) All of the above

Question 18

The concept of performance has no effect on the statute of frauds.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is not a type of contract within the statute of frauds that concerns a promise to pay a debt?

Accepted Answer

A)   Secondary obligation.
B)   Secondary promise.
C)   Collateral promise.
D)   Suretyship promise.
E)   Promissory estoppel.F) B) and C)
G) B) and D)

Question 20

When a contract is incomplete, a court will not look at industry standards to complete the contract unless the parties had agreed to follow standard industry practice.

Accepted Answer

A) True 
 B)False

Exam 18: Contracts in Writing

While testifying on the stand in his breach of contract suit, Constantine admitted that he sold land to Felipe. This is known as a(n) ________.

Correct Answer
verified

A[n] ________ clause is one way parties can indicate their desire to create an integrated contract.

Correct Answer
verified

Which of the following is false regarding written contracts?

Correct Answer
verified

When a contract is incomplete, a court will not look at industry standards to complete the contract unless the parties had agreed to follow standard industry practice.

Correct Answer
verified

Which of the following is true about contracts that have been subsequently modified?

Correct Answer
verified

Which of the following was the result in the case in the text Sewing v. Bowman, involving the issue of whether an agreement to share in the profits of the land, such as appreciation in the value of the properties and rental income, came within the statute of frauds?

Correct Answer
verified

What types of contracts does the statute of frauds require to be in writing? Include in your answer contracts, if any, the UCC requires to be in writing.

Correct Answer
verified
The types of contracts for which the sta...
View Answer

"Statute of Frauds" is a title in the United States Code of Laws.

Correct Answer
verified

Which of the following statements is true about the statute of frauds and e-commerce?

Correct Answer
verified

Within the statute of frauds, the ________ is an exception as to when a secondary obligation does not need to be in writing.

Correct Answer
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Correct Answer
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In the "parol evidence rule," what does the term "parol" mean?

Correct Answer
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Which of the following is not a type of contract within the statute of frauds that concerns a promise to pay a debt?

Correct Answer
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In 1677, the English Parliament passed the ________.

Correct Answer
verified

Correct Answer
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The concept of performance has no effect on the statute of frauds.

Correct Answer
verified

Oral modifications are inadmissible and unenforceable if a contract's terms require that modification be in writing.

Correct Answer
verified

The legal enforcement of an otherwise unenforceable contract due to a party's detrimental reliance on the contract is known as ________.

Correct Answer
verified

Correct Answer
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________ is the term for contracts within the statute of frauds involving promises to pay a debt of another if the initial party fails to pay.

Correct Answer
verified

Exam 18: Contracts in Writing

While testifying on the stand in his breach of contract suit, Constantine admitted that he sold land to Felipe. This is known as a(n) ________.

Correct AnswerverifiedShow Answer

A[n] ________ clause is one way parties can indicate their desire to create an integrated contract.

Correct AnswerverifiedShow Answer

Which of the following is false regarding written contracts?

Correct AnswerverifiedShow Answer

When a contract is incomplete, a court will not look at industry standards to complete the contract unless the parties had agreed to follow standard industry practice.

Correct AnswerverifiedShow Answer

Which of the following is true about contracts that have been subsequently modified?

Correct AnswerverifiedShow Answer

Which of the following was the result in the case in the text Sewing v. Bowman, involving the issue of whether an agreement to share in the profits of the land, such as appreciation in the value of the properties and rental income, came within the statute of frauds?

Correct AnswerverifiedShow Answer

What types of contracts does the statute of frauds require to be in writing? Include in your answer contracts, if any, the UCC requires to be in writing.

Correct AnswerverifiedThe types of contracts for which the sta...View AnswerShow Answer

"Statute of Frauds" is a title in the United States Code of Laws.

Correct AnswerverifiedShow Answer

Which of the following statements is true about the statute of frauds and e-commerce?

Correct AnswerverifiedShow Answer

Within the statute of frauds, the ________ is an exception as to when a secondary obligation does not need to be in writing.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In the "parol evidence rule," what does the term "parol" mean?

Correct AnswerverifiedShow Answer

Which of the following is not a type of contract within the statute of frauds that concerns a promise to pay a debt?

Correct AnswerverifiedShow Answer

In 1677, the English Parliament passed the ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The concept of performance has no effect on the statute of frauds.

Correct AnswerverifiedShow Answer

Oral modifications are inadmissible and unenforceable if a contract's terms require that modification be in writing.

Correct AnswerverifiedShow Answer

The legal enforcement of an otherwise unenforceable contract due to a party's detrimental reliance on the contract is known as ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

________ is the term for contracts within the statute of frauds involving promises to pay a debt of another if the initial party fails to pay.

Correct AnswerverifiedShow Answer

Correct Answer
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The types of contracts for which the sta...
View Answer

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