Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

17. As codified by most states, the Statute of Frauds generally provides that: a. memorandums satisfying the requirement for a writing need only be signed

17. As codified by most states, the Statute of Frauds generally provides that:

a.

memorandums satisfying the requirement for a writing need only be signed by the party to be bound.

b.

evidence of an oral agreement is never admissible.

c.

only a series of numbers unique to each person printed on a memorandum will suffice as a signature.

d.

the signature should appear at the bottom right hand corner of the memorandum.

18. When interpreting contracts, courts:

a.

give technical terms an ordinary meaning.

b.

interpret ambiguous words in favor of the party drafting the contract.

c.

give ordinary words their usual meaning.

d.

give non-technical words any meaning intended by the defendant.

19. "Parol evidence" refers to:

a.

the evidence given at a parole hearing.

b.

the rule requiring that certain types of perjury (lying under oath) concerning the evidence presented in a case results in criminal sentences without possibility of parole.

c.

the equitable doctrine of promissory estoppel.

d.

the idea that when parties to an agreement have expressed their agreement in a complete, unambiguous writing, the writing itself is the best evidence of ther intent.

20. Under the parol evidence rule, parties cannot vary the terms of :

a.

a written contract by introducing evidence of terms allegedly agreed on prior to or contemporaneous with the writing.

b.

an oral contract by introducing evidence of a written agreement.

c.

a written contract by introducing evidence of another writing produced after the original contract was drafted.

d.

an oral agreement by publishing notice of a subsequent modification.

21. Facts: Odell and Pete sign a contract for the sale of Odell's Pizza Parlor to Pete. The parties intend their written contract to be a final statement of most, but not all of the terms of their agreement. Odell must first buy the building from Quinn, after which Odell and Pete will negotiate a final price.

Question: Pete later disputes some of the provisions of the deal with Odell. If the dispute results in litigation, a court will most likely admit evidence of:

a.

ambiguous additional terms.

b.

consistent additional terms.

c.

contradictory additional terms.

d.

fraudulent additional terms.

22. Facts: Refer to the facts of Question 21.

Question: The writing that Odell and Pete signed is a:

a.

completely integrated contract.

b.

conditionally integrated contract.

c.

partially integrated contract.

d.

supplementally integrated contract.

23. A textbook publisher makes an agreement with Professor Caliman to write a new legal ethics book. The parties agree that the book will be due in five (5) years. Under this scenario, the contract is:

a.

enforceable.

b.

unenforceable.

c.

voidable.

d.

illegal.

24. Bob buys a house from Susan. They orally agree that Susan will pay for any major repairs the house needs for the first year that Bob owns it. The written sale contract, however, does not include this term and when the furnace breaks down three months after the sale, Susan refuses to pay for the costs of repair. Which of the following is a/are correct statement(s) of the law? (Note: there may be more than one correct answer)

a.

If the contract is complete and unambiguous, Bob will be barred from proving the oral repair term.

b.

Because Susan's oral promise was primarily for her own benefit, the leading object doctrine does not require the term about the repairs to be in writing.

c.

Because this contract was for the sale of land, the Statute of Frauds required the agreement to be memorialized in writing.

d.

Under the unequal dignity rule, the contract term about the repair did not need to be in writing.

.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Venture Capital Investment Process

Authors: Darek Klonowski

1st Edition

0230612881, 023011007X, 9780230612884, 9780230110076

More Books

Students also viewed these Finance questions