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Q:
Which of the following is false regarding the statute of frauds provision relating to an interest in land?
A. The statute is intended to prevent oral claims to the existence of a contract for the sale of land.
B. The statute requires a writing as evidence of a contract to sell land.
C. Anything attached to land such as trees or buildings is considered real property under the statute of frauds.
D. Mortgages of land are within the statute of frauds.
E. Leases of land are not within the statute of frauds.
Q:
Which of the following are considered an interest in land within the statute of frauds?
A. Promises to sell crops annually.
B. Agreements between parties for profit sharing from the sale of real property.
C. Boundary disputes that have been settled through the use of land.
D. Promises to sell crops annually, agreements between parties for profit sharing from the sale of real property, and boundary disputes that have been settled through the use of land.
E. None of these.
Q:
Which of the following was the result on appeal in the case in the text Shelby's, Inc. v. Sierra Bravo Inc., involving the issue of whether an agreement to deposit debris and soil on land came within the statute of frauds?
A. The court ruled that the agreement did not involve an interest in land and did not come within the statute of frauds.
B. The court ruled that the agreement did involve an interest in land and, that it came within the statute of frauds, and that no oral agreement was sufficient.
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. None of these.
Q:
Which of the following is a term for contracts within the statute of frauds involving promises to pay a debt of another if the other party fails to pay?
A. Secondary promises
B. Primary promises
C. Primary debts
D. Third-party debts
E. Commercial promises
Q:
Which of the following are debts incurred in an initial contract?
A. Secondary obligations
B. Primary obligations
C. Secondary promises
D. Collateral promises
E. Suretyship promises
Q:
Which rule is an exception as to when a secondary obligation needs to be in writing?
A. The primary-purpose rule
B. The resulting-fact rule
C. The main-purpose rule
D. The delineated rule
E. The personal-obligation standard
Q:
If a contract cannot be performed within one year, the statute of frauds requires that ______________________.
A. the one-year period begins to run the day after the contract is created, not when the contract is scheduled to begin
B. a contract does not come within the statute of frauds if it could be completed within one year even if it is highly unlikely that a contract will be completed within one year
C. a contract for lifetime employment does not have to be in writing in order to be enforceable
D. contracts whose performance, based on the terms of the contract, could not possibly occur within one-year fall within the statute of frauds
E. All of these are true.
Q:
An agreement in which two parties enter into before marriage that clearly states the ownership rights each party enjoys in the other party's property is known as a(n) _________.
A. preliminary agreement
B. planned contract
C. approved resolution
D. prenuptial agreement
E. arranged marriage
Q:
Which of the following is false regarding the statute of frauds and promises made in consideration of marriage?
A. Agreements regarding marriage in which one party is gaining something other than a return on his or her promise to marry are within the statute of frauds and must be in writing.
B. Mutual promises to marry fall within the statute of frauds.
C. Prenuptial agreements fall within the statute of frauds.
D. A prenuptial agreement is not automatically enforceable just because it is in writing.
E. Both that mutual promises to marry fall within the statute of frauds and that a prenuptial agreement is not automatically enforceable just because it is in writing.
Q:
Which of these types of contracts does not fall within the statute of frauds?
A. Contracts not performed within 6 months
B. Promises made in consideration of marriage
C. Suretyship
D. Agreements related to an interest in land
E. Sale of goods over $500
Q:
Which of the following was the result on appeal in Martha A. Nix and Charles E. Upham v. Skip Wick, Christie Wick, and James Oldfield, the case in the text in which the plaintiffs sued claiming that in addition to a written agreement regarding the purchase of land, they were orally promised the sale of additional land which the facts later revealed was not actually owned by the seller?
A. That the actual owner of the land would be forced to convey the property.
B. That under the statute of frauds, the entire contract of sale would be rescinded but that the plaintiff would not receive damages.
C. That the contract would be enforced, but that the seller would be forced to pay the plaintiff's damages because of the portion of the land that could not be conveyed.
D. That under the statute of frauds, the contract would be rescinded and that the plaintiff was entitled to damages.
E. That the statute of frauds rendered void allegations regarding the sale of the land owned by the other party.
Q:
Which of the following is false regarding assignment of claims in Russia?
A. The assignment of rights, or "assignment of claims," in Russia is highly regulated by the Russian common law.
B. Russian law does not address the assignment of a contract in the same manner as the United States.
C. Economic or monetary rights of the assignor may be transferred to another person.
D. Alimony rights may not be assigned to another person.
E. Assignments must be in writing.
Q:
Under the Uniform Commercial Code, contracts for the sale of goods totaling more than ______ must be in writing.
A. $200
B. $300
C. $500
D. $600
E. $1,000
Q:
Which of the following is false regarding the statute of frauds?
A. It relates to fraudulent contracts.
B. It does not address illegal contracts.
C. It does not exist at the federal level.
D. The statute requires that certain contracts be in writing.
E. Some states have statutes of frauds created by judicial decision rather than legislation.
Q:
The statute of frauds is intended to prevent which type of unreliable evidence from interfering with a contractual relationship?
A. Hearsay
B. Oral
C. Irrelevant
D. Immaterial
E. Hearsay and irrelevant
Q:
The statute of frauds imposes on parties the need to carefully consider the terms, agree to them, write them down, and ___________.
A. meet with a lawyer to discuss the terms
B. continue to negotiate the contract
C. orally agree to the terms
D. sign the agreement
E. file the agreement with the court
Q:
Since its inception, English courts have expanded the number of cases falling within their statute of frauds.
Q:
Which of the following is false regarding written contracts?
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 Act.
E. All contracts must be in writing in order to be enforced.
Q:
In ______ the English Parliament passed the Act for the Prevention of Frauds and Perjuries.
A. 1555
B. 1677
C. 1770
D. 1776
E. 1865
Q:
A donee beneficiary is a third party who benefits from a contract in which the promisor agrees to pay the promisee's debt.
Q:
A donee beneficiary is a type of incidental beneficiary.
Q:
Creditor beneficiaries can enforce their rights under a contract whenever the contract is valid.
Q:
In order for an assignment to be valid, an assignee must agree to accept the assigned rights.
Q:
An artist can delegate her duties to paint a portrait she was hired to.
Q:
A contract stating, "I assign all of my rights under the contract." will generally be construed to be an assignment of rights but not duties.
Q:
An intended beneficiary is a third party to a contract whom the contracting parties intended to benefit directly from their contract.
Q:
An obligor is the party who agreed to receive something from another party.
Q:
The party who receives the rights of another party in a contract is called an assignee.
Q:
For an assignment to be valid, the assignor must file the assignment with the court.
Q:
The parol evidence rule prevents parties from introducing oral evidence of an agreement involving early release in a criminal case because such agreements must be in writing.
Q:
If an agreement, which is required to be in writing under the statute of frauds, contains a serious and obvious typographical error, parol evidence is admissible to demonstrate that the writing contained an error.
Q:
When a court deems a contract integrated, parol evidence is generally admissible.
Q:
Under partial performance, if the buyer in an alleged contract for the sale of land has paid any portion of the sales price and either has begun to permanently improve the land or has taken possession of the land, the courts will consider the contract partially performed, and this partial performance will amount to proof of the contract.
Q:
Under the UCC, oral testimony can be used to establish the existence of a lost writing.
Q:
An exception to the parol evidence rule occurs if a contract's terms require that modification be in writing.
Q:
Prenuptial agreements fall within the types of agreements of the statute of frauds.
Q:
Primary obligations to pay a debt fall within the types of agreements of the statute of frauds.
Q:
In general, an oral contract for the sale of land is sufficient to prove terms of the agreement in court.
Q:
Partial performance is an exception to the parol evidence rule.
Q:
A promise to pay a debt that has already been discharged in bankruptcy must be in writing in order to be enforceable in many states.
Q:
Suretyship is an agreement to complete a contract within one year.
Q:
Mutual promises to marry fall within the statute of frauds.
Q:
The statute of frauds is a law passed by the federal legislature.
Q:
The statute of frauds is a law, which set forth requirements for which agreements can be oral.
Q:
Contracts related to the sale of goods totally over $500 fall within the statute of frauds.
Q:
State laws require that all contracts must be in writing to be enforceable in the courts.
Q:
A voidable contract may be canceled or _____.
A. chargeable
B. rescinded
C. deassented
D. reassented
E. uncharged
Q:
Which of the following was the result on appeal in Manderville v. PCG&S Group Inc., the case in the text in which the defendant property broker claimed that the plaintiffs could not recover on their claim for intentional misrepresentation because the plaintiffs did not diligently investigate the legal condition of the property and also because the agreement between the parties contained an exculpatory clause releasing the defendant from any understandings not incorporated into the contract?
A. That the plaintiffs could not recover because the plaintiff failed to meet the obligation of inspecting the legal condition of the property.
B. That the plaintiffs could not recover based on the exculpatory clause in the contract.
C. That the plaintiffs could not recover because there was nothing wrong with the property, such as environmental contamination.
D. That the plaintiffs were entitled to proceed to trial and that an exculpatory clause attempting to render a defendant not liable for fraud is void as a matter of public policy.
E. That the plaintiffs were entitled to proceed to trial on the property issue only if they could first establish that they did no read the exculpatory clause.
Q:
Which of the following was the result on appeal in Telekenex IXC Inc. v. Charlotte Russe Inc., the case in the text in which the defendant claimed that an amendment to a contract for communication services was unenforceable because it was entered into based on a threat that the services would be discontinued otherwise?
A. The court found that the defendant had established a prima facie defense of duress and remanded the case for further proceedings.
B. The court found that the defendant had established a prima facie defense of misrepresentation and remanded the case for further proceedings.
C. The court found that the defendant had established a prima facie defense of undue influence and remanded the case for further proceedings.
D. The court found that the defendant was bound to the amendment because no one forced agreement.
E. The court found that the defendant was bound to the amendment because the defendant had begun performance under it.
Q:
Which of the following is necessary in order to establish that a mutual mistake involving a basic assumption about the subject matter of a contract was made?
A. That the mistake involved the existence, quality, or quantity of the items to be exchanged.
B. That the mistake involved whether a party could profit from the contract.
C. That the mistake involved whether a party could profit from the contract or whether a party misunderstood the time constraints involved in regard to the contract.
D. That the mistake involved the identity of parties to the contract or whether a party misunderstood the time constraints involved in regard to the contract.
E. That the mistake involved a misunderstanding of law as to whether or not the UCC applied.
Q:
Raffles v. Wichelhaus, the case involving two ships named Peerless, is a classic example of a(n) _____.
A. rescinded contract
B. mutual mistake
C. unenforceable agreement
D. unilateral mistake
E. misrepresentation
Q:
What was the result in Scott v. Mid-Carolina Homes Inc., the case in the text in which the defendant attempted to rescind a contract to sell a mobile home because its salesperson was acting under a mistake of fact when he gave the plaintiff the sales price?
A. The seller was allowed to rescind the contract because a unilateral contract was involved.
B. The seller was allowed to rescind the contract because a bilateral contract was involved.
C. The seller was allowed to rescind the contract because the mistake involved a price differential of over 25%.
D. The seller was allowed to rescind the contract because the mistake involved a price differential of over 50%.
E. The seller was not allowed to rescind the contract.
Q:
If a contract is rescinded, it is _____.
A. renewed
B. a mistake
C. cancelled
D. temporarily stopped
E. a misrepresentation
Q:
Which is not a major obstacle to genuine assent?
A. Mistake
B. Misrepresentation
C. Undue influence
D. Ratification
E. Duress
Q:
Mistakes in contracts may be classified as _____.
A. void and voidable
B. enforceable and voidable
C. unilateral and void
D. mutual and enforceable
E. unilateral and mutual
Q:
Duress is found when one party was forced into an agreement by the wrongful act of another.
Q:
European courts permit rescission of a contract for a mistake of value when the mistake involves more than 40 percent of the value at the time of the contract.
Q:
If one or both parties have the ability to withdraw or enforce the contract, then the contract is _____.
A. voidable
B. rescinded
C. a mistake
D. void
E. unenforceable
Q:
Scienter is present when the party accused of making the fraudulent assertion believed that the assertion was false or made the claim without any regard for whether it was true or false.
Q:
A statement of fact must be an actual assertion for fraudulent misrepresentation to exist.
Q:
Undue influence is a situation in which one person has taken advantage of his or her dominant position in a relationship to unduly persuade the other person.
Q:
Nondisclosure of a contract involves the active hiding of the truth about a material fact.
Q:
Fraudulent misrepresentation has the same elements as intentional misrepresentation.
Q:
A negligent misrepresentation results when the party making the statement would have known the truth about the fact had he used reasonable care to discover or reveal it.
Q:
Fraudulent misrepresentation is a false representation of a material fact that is not intended to mislead the other party. FALSE
Q:
Courts will not void contracts for reason of mutual mistake.
Q:
Misrepresentation is a false statement by a party about a material fact.
Q:
Scienter is a required element of innocent misrepresentation.
Q:
For fraudulent misrepresentation to be the basis for a contract rescission, the statement must involve a material fact intended to mislead the other party.
Q:
Mistakes in contract law result from untrue statements made by one party to the contract.
Q:
Generally, a unilateral mistake makes a contract void.
Q:
The result of an error by both parties about a material fact is known as a bilateral mistake.
Q:
Bob offered to sell Teresa his used motorcycle. She took a look at it and asked Bob how it ran to which Bob replied that it was in good shape. Teresa thought the motorcycle was two years old when she purchased it. A few days later, she discovered that it was actually five years old. She asks Bob to take back the motorcycle. He tells her no way, that he thought she knew the age of that model, and that she should have asked him if she had any uncertainty. If Teresa sues, who is likely to win and why?
Q:
Certain problems with the offer of a contract result in the contract being voidable.
Q:
If at least one party has the ability to either withdraw or enforce the agreement, the contract is voidable.
Q:
A mistake is an erroneous belief about the facts of the contract at the time the contract is concluded.
Q:
Constance was buying a used personal watercraft from Ralph. He told her that the engine on the watercraft was in good shape. Constance agreed to pay Ralph $4,000 for the watercraft. She was going to be out of town on vacation, so Ralph and Constance agreed that when she returned in a week, she would bring over the money and pick up the watercraft. During that week, the manufacturer notified Ralph that the watercraft was being recalled because it had a faulty engine that needed repair. Ralph said nothing about the condition of the engine or the recall when Constance came to pick up the watercraft. They chatted about other matters; she gave him the $4,000, and took the watercraft. Later, Constance started having problems with the watercraft and found out the purchasers had been notified of the issue with the engine. She asked for a refund accusing Ralph of fraud. Ralph refused on the basis that he did not make any misrepresentation. Who is correct and why? For purposes of this question, assume that sales talk or puffery is not at issue.
Q:
Set forth the three reasons referenced in the text that would permit a court to invalidate a contract on grounds of unilateral mistake.
Q:
What must a party prove in order to obtain money damages based on a fraudulent misrepresentation?
Q:
Shady lawyer. Brice had a number of ethical issues come up in law school involving alleged cheating but managed to graduate because nothing was ever proven. Upon obtaining his law license, Brice enjoyed living "on the edge" and engaged in tactics that were at least questionable. One of his clients was an older gentleman, Sam, with significant assets and significant legal issues involving a messy divorce stemming from his involvement with a local dog groomer, Susie. Brice told Sam that he felt certain that he could arrange matters so that Sam could live happily in the Caribbean with Susie but that, in addition to paying a hefty legal fee, Sam would need to name Brice as a significant beneficiary in his will and give Brice power of attorney over his assets. Sam agreed to do so and gave Brice power of attorney, and changed his will to reflect that upon his death, Brice would receive half his estate. The other half went to Susie. Sam also paid the hefty fee Brice demanded. At that point Brice agreed to proceed with negotiations in the divorce. Shortly after the divorce, Sam had an unexpected heart attack and died immediately. Susie, the executor of the will, told Brice that she was reporting him to the state bar association and that he was not entitled to any sums from the estate. Brice told Susie that he knew that Susie had failed to pay income tax for all her dog grooming and that he was reporting her unless she kept her mouth shut and consented to the terms of the contract. Brice also said that in return for keeping his mouth shut, he wanted additional sums purportedly for his work on Sam's divorce. Which of the following is true regarding Brice's dealing with Sam?
A. Brice is guilty of duress.
B. Brice is guilty of undue influence.
C. Brice is guilty of both duress and undue influence.
D. Brice is guilty of fraudulent misrepresentation and duress.
E. Brice is not guilty of anything unless it can be proven that Sam was not in good mind during his transactions with Brice; and, in that case, Brice is guilty of duress.