Question 1

A promise to pay another's debt only if that party fails to pay does not need to be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 2

For a particular contract to fall under the one-year rule, the parties must subjectively believe that its performance is impossible to complete within a year.

Accepted Answer

A) True 
 B)False  False

Question 3

A contract must be in writing to be enforceable if its performance is not likely within a year of its formation, even if that performance is possible.

Accepted Answer

A) True 
 B)False  False

Question 4

A memorandum evidencing an oral contract must contain every term of the deal to be enforceable.

Accepted Answer

A) True 
 B)False

Question 5

Builders Corporation files a suit against Concrete Company to enforce a written contract. If the court finds that the parties intended the contract to be the final statement of their agreement, parol evidence can be admitted to prove

Accepted Answer

A)  an orally agreed-on condition.
B)  terms discussed before the contract but not contained in it.
C)  terms discussed at the time of the contract that contradict the writing.
D)  nothing.E) None of the above
F) C) and D)

Question 6

An oral promise to sell certain real property is enforceable without more, but the actual sale must be in writing to be enforceable.

Accepted Answer

A) True 
 B)False

Question 7

An agreement made before marriage that defines each partner's interest in the other partner's property is a collateral promise .

Accepted Answer

A) True 
 B)False

Question 8

Omar orally agrees with Pi Pizza to provide delivery service to its customers for nine months. This contract is enforceable by

Accepted Answer

A)  none of the choices.
B)  either Omar or Pi.
C)  any interested third party, such as a Pi customer.
D)  Pi only.E) None of the above
F) A) and B)

Question 9

Reliance on a certain type of oral contract can be enough to remove it from the Statute of Frauds.

Accepted Answer

A) True 
 B)False

Question 10

Rough Canyon Adventures Inc. and Swampcraft Inc. enter into an oral contract for Swampcraft's sale to Rough of five rafts for $2,000 each. Before Rough takes possession of the rafts, this contract is enforceable by

Accepted Answer

A)  Swampcraft only.
B)  Rough only.
C)  any interested third party, such as a Rough tour guide or client.
D)  none of the choices.E) A) and D)
F) C) and D)

Question 11

Daredevil Rides Inc. owes debts to Equipment Company and Food Supplies, Inc. Equipment orally agrees to assume Daredevil's debt to Food to prevent the concessionaire from filing a suit against Daredevil. This agreement is enforceable by

Accepted Answer

A)  none of the choices.
B)  Daredevil, Equipment, or Food.
C)  Daredevil only.
D)  Equipment only.E) None of the above
F) A) and B)

Question 12

A party's signature must be at the end of a writing for the writing to constitute an enforceable contract.

Accepted Answer

A) True 
 B)False

Question 13

Quinn and Ruth orally agree on the sale of Seafood Shippers Inc. and jot down the terms on the back of one of Seafood's blank invoices, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Accepted Answer

A)  all terms.
B)  the essential terms.
C)  the preliminary terms.
D)  the quality terms.E) A) and B)
F) A) and C) B

Question 14

A written contract must consist of a single document to constitute an enforceable contract.

Accepted Answer

A) True 
 B)False

Question 15

Lumber LLC files a suit against Mill Company to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds. The court could enforce such a contract if

Accepted Answer

A)  Lumber foreseeably and justifiably relied on Mill's promise.
B)  Mill denies the existence of any contract.
C)  neither party has begun to perform.
D)  the deal does not involve customized goods.E) A) and B)
F) All of the above

Question 16

A unilateral promise to pay a sum of money or to give property in consideration of a promise to marry must be in writing.

Accepted Answer

A) True 
 B)False

Question 17

Kee and Lu enter into a contract for the sale of Mountain Valley Ranch. To be enforceable, this contract must be

Accepted Answer

A)  substantiated by reliable, external evidence.
B)  signed in a sufficient manner by both parties.
C)  in writing or evidenced by a written memorandum.
D)  all of the choices.E) A) and B)
F) A) and C)

Question 18

Ranchland Properties and Prairie State Investments sign a written contract for a sale of land. In some states, to be enforceable, this contract must include

Accepted Answer

A)  a correct title, such as "Land Transfer" or "Real Estate Agreement."
B)  a declaration of the contract's purpose.
C)  a statement of the source of financing.
D)  a description of the land.E) A) and B)
F) C) and D)

Question 19

An oral sales contract for goods priced at less than $500 is unenforceable.

Accepted Answer

A) True 
 B)False

Question 20

To cater a holiday banquet, Food Service LLC agrees to buy one hundred pumpkin pies from Great Desserts Inc. To be enforceable, the agreement must be in writing if the pies cost at least

Accepted Answer

A)  $100.
B)  $250.
C)  $499.
D)  $500.E) B) and C)
F) A) and D)

Exam 16: The Writing Requirement

A promise to pay another's debt only if that party fails to pay does not need to be in writing to be enforceable.

Correct AnswerverifiedShow Answer

For a particular contract to fall under the one-year rule, the parties must subjectively believe that its performance is impossible to complete within a year.

Correct AnswerverifiedFalse

A contract must be in writing to be enforceable if its performance is not likely within a year of its formation, even if that performance is possible.

Correct AnswerverifiedFalse

A memorandum evidencing an oral contract must contain every term of the deal to be enforceable.

Correct AnswerverifiedShow Answer

Builders Corporation files a suit against Concrete Company to enforce a written contract. If the court finds that the parties intended the contract to be the final statement of their agreement, parol evidence can be admitted to prove

Correct AnswerverifiedShow Answer

An oral promise to sell certain real property is enforceable without more, but the actual sale must be in writing to be enforceable.

Correct AnswerverifiedShow Answer

An agreement made before marriage that defines each partner's interest in the other partner's property is a collateral promise .

Correct AnswerverifiedShow Answer

Omar orally agrees with Pi Pizza to provide delivery service to its customers for nine months. This contract is enforceable by

Correct AnswerverifiedShow Answer

Reliance on a certain type of oral contract can be enough to remove it from the Statute of Frauds.

Correct AnswerverifiedShow Answer

Rough Canyon Adventures Inc. and Swampcraft Inc. enter into an oral contract for Swampcraft's sale to Rough of five rafts for $2,000 each. Before Rough takes possession of the rafts, this contract is enforceable by

Correct AnswerverifiedShow Answer

Daredevil Rides Inc. owes debts to Equipment Company and Food Supplies, Inc. Equipment orally agrees to assume Daredevil's debt to Food to prevent the concessionaire from filing a suit against Daredevil. This agreement is enforceable by

Correct AnswerverifiedShow Answer

A party's signature must be at the end of a writing for the writing to constitute an enforceable contract.

Correct AnswerverifiedShow Answer

Quinn and Ruth orally agree on the sale of Seafood Shippers Inc. and jot down the terms on the back of one of Seafood's blank invoices, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain

Correct AnswerverifiedB

A written contract must consist of a single document to constitute an enforceable contract.

Correct AnswerverifiedShow Answer

Lumber LLC files a suit against Mill Company to enforce an oral contract that would otherwise be unenforceable under the Statute of Frauds. The court could enforce such a contract if

Correct AnswerverifiedShow Answer

A unilateral promise to pay a sum of money or to give property in consideration of a promise to marry must be in writing.

Correct AnswerverifiedShow Answer

Kee and Lu enter into a contract for the sale of Mountain Valley Ranch. To be enforceable, this contract must be

Correct AnswerverifiedShow Answer

Ranchland Properties and Prairie State Investments sign a written contract for a sale of land. In some states, to be enforceable, this contract must include

Correct AnswerverifiedShow Answer

An oral sales contract for goods priced at less than $500 is unenforceable.

Correct AnswerverifiedShow Answer

To cater a holiday banquet, Food Service LLC agrees to buy one hundred pumpkin pies from Great Desserts Inc. To be enforceable, the agreement must be in writing if the pies cost at least

Correct AnswerverifiedShow Answer

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B

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