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Exam 15: Written Contracts

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Question 21

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All collateral promises must be in writing to be enforceable. 

A) True
B) False

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Question 22

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Evidence of prior agreements that differ from the written terms of a contract can be introduced in court to alter the contract. 

A) True
B) False

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Question 23

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There are exceptions to the Statute of Frauds. 

Grant and Hester enter into a contract for a sale of Hester's Pastoral Valley Orchard.This contract​ 

Waterfront Hotels Corporation in Boston offers a job to Carol,who lives in Denver.Carol orally agrees to work for Waterfront for two years.She moves her family to Boston and begins work.Three months later,she is fired for no stated cause.She files a suit against the employer for reinstatement or pay.Waterfront pleads the lack of a written contract.In whose favor is the court likely to rule,and why?​

A contract must be in writing to be enforceable if the contract makes performance possible within any definite period of time. 

A party's oral agreement to pay another's debt is never enforceable. 

Colette and Dealership Auto Sales Company enter into an oral contract under which Dealership Auto agrees to pro-vide Colette with lifetime employment.This contract may be enforceable by​ 

The Statute of Frauds operates as a defense to the enforcement of any contract for the sale of land. 

An oral contract for a sale of land can sometimes be enforced if partial performance has taken place.

Fact Pattern 15-2Kelly and Lucas sign a written contract for the sale of Kelly's Koffee Kiosk to Lucas. The parties intend their written contract to be a final statement of the terms of their agreement. -Refer to Fact Pattern 15-2.The writing that Kelly and Lucas signed is a contract that is​ 

A contract must be in writing to be enforceable unless its performance is impossible within one year. 

Dixie May enters into a contract to buy one hundred pounds of pecans from Margaret.The contract must be in writing if the pecans cost​ 

An oral contract may be enforceable if there is no way to avoid injustice except to enforce the promise. 

A contract in which a party assumes a primary obligation must be in writing to be enforceable. 

Fact Pattern 15-1Millet Grains Cooperative and Corn Cereals, Inc., discuss the terms of a contract for periodic deliveries of corn. Millet Grains then faxes Corn Cereals a memo on Millet Grains's letterhead that summarizes the points on which they agreed, including a two-year term. Millet Grains begins to perform, and Corn Cereals accepts the deliveries but refuses to pay. -Refer to Fact Pattern 15-1.The transaction between Millet Grains and Corn Cereals falls within the provision of the Statute of Frauds involving​ 

The primary purpose of the Statute of Frauds is to ensure that all parties to a contract understand all the terms of the contract.

Prenuptial agreements are agreements made during a wedding ceremony that define each partner's duties to one another during the marriage.

Oral evidence to "fill in the gaps" of a contract with incomplete terms can be introduced at a trial. 

Guardian Security,Inc.,and Hedge Fund Corporation enter into an oral contract under which Guardian Security agrees to provide security services for Hedge Fund offices for as long as Hedge Fund needs them.This contract may be enforceable by​