25. In order to encourage people to put their contracts in writing, the statute of frauds is interpreted broadly.

26. Which of Farmer Brown's contracts must be in writing:

grant of an easement to a neighboring farmer

an agreement to have a neighboring farmer harvest the corn for a fee of $900

sale of 100 chickens for $400

lease of 10 acres to neighboring farmer, for a term of three months

28. Another term for failure to meet obligations: _________________

29. When my son applies for a car loan, with no credit history, I agree to take over my son's car payments if he fails to pay. The bank grants the loan:

Group of answer choices

I have no obligation as there was no consideration for my promise

I am a guarantor and my promise must be written

whether the agreement must be in writing depends on the value of the car and amount of the loan (over 500?)

none of the above

33. To satisfy the statute of frauds, a signature must consist of the party's legal name, correctly spelled. Group of answer choices

True

False

34. an oral contract for the sale of goods with value greater than $500 might be enforceable, if: Group of answer choices

it involves specially manufactured goods and manufacture has begun

the seller has accepted payment

the buyer has accepted the goods

all of the above

none of the above

Requirements of a writing adequate to satisfy the statute of frauds: Group of answer choices

signatures of all parties

a single, integrated agreement

an agreement to honor a specific agreement

all of the above

none of the above Flag question: Question 37 Question 371 pts An __________________ agreement is intended to be final and complete. Flag question: Question 38 Question 381 pts A performance bond is: Group of answer choices

an offer

a form of suretyship

unlawful

a contract involving real property, which must be written