1. Any mark that the signer intends to be a signature will be the legal signature of that person.

True or False

2. The __________ is the law that requires certain contracts to be in writing to be enforceable.

Parol evidence rule

Statute of Frauds

Promissory estoppel

Statute of Contracts

3. Most contracts must be in writing to be enforceable.

True or False

4. The __________ rule guides the entire interpretation process by directing the interpreter of a contract to determine the principal objective of the parties in the making of the contract.

equal dignities

standard construction

best evidence

parol evidence

5. Under the __________ rule, when an agent is appointed to negotiate an agreement that must itself be in writing, the appointment of the agent must also be in writing.

best evidence

primary objective

standard construction

equal dignities

parol evidence

6. A(n) __________ is an effective method used by businesses to verify the legitimacy of online transactions.

preprinted contract

primary objective

acknowledgment

digital signature

written agreement

7. Contracts for the sale of goods must be in writing when the price of the goods is $500 or less.

True or False

8. The parol evidence rule will not apply when unfair and unjust decisions might result from its application.

True or False

9. Oral evidence can never be used under the parol evidence rule.

True or False

10. Oral contracts for the sale of goods of $500 or more will be enforced for specially manufactured goods that cannot be resold easily.

True or False

11. According to the __________ rule, courts accept as evidence only the original of a writing, not a copy.

standard construction

best evidence

primary objective

equal dignities

parol evidence

12. According to the __________, if the promise to pay another party's debt is actually made to secure a benefit for the guarantor, there is no need for a writing to enforce the promise.

equitable estoppel

equal dignities rule

primary objective test

standard construction rule

best evidence rule

13. According to the statute of frauds, applicable in most states, contracts by one party to pay a debt of another party do not have to be in writing to be enforceable.

True or False

14. Tony is the executor of his deceased uncle's estate. The estate has run out of money, so Tony orally agrees to pay his uncle's debts from his own funds to protect the honor of the family.Tony is

not bound by his oral agreement if his work as an executor takes longer than one year.

bound by his oral agreement to pay debts that are less than $500.

not bound by his oral agreement.

bound by his oral agreement.

15. A(n) __________ is one in which two people planning to marry agree to change the property rights they possess by law in a marriage.

prenuptial agreement

best evidence rule

equal dignities rule

leading objective rule

primary objective agreement

16. Josh, a college soccer player, orders a pair of soccer cleats from an online company.This transaction is governed by provisions of the Uniform Electronic Transactions Act.

True or False

17. On a memorandum, the only signature needed to satisfy the Statute of Frauds is that of the party sought to be bound to the agreement.

True or False

18. Which of the following provisions is enforced because the court presumes that the parties will have put everything they agreed to in writing, and hence does not accept evidence of oral statements made before signing the agreement?

Standard construction rule

Best evidence rule

Equal dignities rule

Parol evidence rule

19. Under the best evidence rule, 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.

True or False

20. Teliven and Lollwell are contracting for the sale of a piece of property along a river. The contract for the sale of this property must be in writing.

True or False