Question 1

Raymond agrees to transfer an easement right to Sandra for $1,000. This contract is within the Statute of Frauds and therefore needs to be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following oral contracts may be enforceable?

Accepted Answer

A)   Nathan owes $1,000 in back rent to his landlord. Miranda tells Nathan not to worry about it, she'll pay his debt for him.
B)   Kenny orally agrees to purchase 5,000 pencils that the ABC Pencil Company stamps with the words "Kenny is the Greatest!"
C)   Mrs. Washington calls the corner grocery and places an order for a loaf of bread, a gallon of milk, and a pound of hamburger to be delivered to her. Ten minutes later, before the store has a chance to put together her items, she calls to cancel the order.
D)   All of these are correct.

Question 3

Derek and Abyan were discussing business over lunch when they agreed on the sale of a five-acre parcel of land. Since neither of them had any paper with them, Derek wrote the following on a napkin: "Abyan agrees to purchase from Derek a 5-acre parcel located at the local address of 123 105th Street, St. Joseph, Minnesota, U.S.A. for the price of $4,500 per acre. Transfer of title, payment, and possession to take place on May 1, 2011." Abyan signed the napkin. On May 1, 2011, Derek was ready to close the deal and transfer title but Abyan refused to pay the purchase price. If Derek sues Abyan for the price of the land, the most likely result will be

Accepted Answer

A)   Abyan will win because the writing is not sufficient under the Statute of Frauds.
B)   Derek will win because the writing is sufficient under the Statute of Frauds.
C)   Abyan will win because Derek did not sign the writing.
D)   Derek will win because the Statute of Frauds does not apply to this situation.

Question 4

Ramona, age 42, orally agreed to work for Brahma, Inc. for the rest of her life for $50,000 per year. This agreement would not be enforceable since it violates the one-year rule of the Statute of Frauds.

Accepted Answer

A) True 
 B)False

Question 5

Does the statement "The sale of goods will not be enforceable unless there is some writing, signed by the defendant, indicating that the parties reached an agreement" accurately reflect the UCC's basic rule?

Accepted Answer

A)   No. It should also state that the contract must be signed by both parties, not just the defendant.
B)   No. It should state that the contract must require all of the terms of the agreement to be in writing.
C)   No. It should state that the contract must be for the sale of goods of $500 or more.
D)   Yes. The wording accurately reflects the UCC's basic rule.

Exam 16: Written Contracts

Which of the following oral contracts may be enforceable?

Correct Answer
verified

Raymond agrees to transfer an easement right to Sandra for $1,000. This contract is within the Statute of Frauds and therefore needs to be in writing to be enforceable.

Correct Answer
verified

Does the statement "The sale of goods will not be enforceable unless there is some writing, signed by the defendant, indicating that the parties reached an agreement" accurately reflect the UCC's basic rule?

Correct Answer
verified

Ramona, age 42, orally agreed to work for Brahma, Inc. for the rest of her life for $50,000 per year. This agreement would not be enforceable since it violates the one-year rule of the Statute of Frauds.

Correct Answer
verified

Correct Answer
verified

Exam 16: Written Contracts

Which of the following oral contracts may be enforceable?

Correct AnswerverifiedShow Answer

Raymond agrees to transfer an easement right to Sandra for $1,000. This contract is within the Statute of Frauds and therefore needs to be in writing to be enforceable.

Correct AnswerverifiedShow Answer

Does the statement "The sale of goods will not be enforceable unless there is some writing, signed by the defendant, indicating that the parties reached an agreement" accurately reflect the UCC's basic rule?

Correct AnswerverifiedShow Answer

Ramona, age 42, orally agreed to work for Brahma, Inc. for the rest of her life for $50,000 per year. This agreement would not be enforceable since it violates the one-year rule of the Statute of Frauds.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified