Podcast
Questions and Answers
What must be true for a contract that cannot be performed within one year to be enforceable?
What must be true for a contract that cannot be performed within one year to be enforceable?
- It must be notarized.
- It must have a witness present.
- It must be signed by both parties.
- It must be in writing. (correct)
What is a collateral promise?
What is a collateral promise?
- A secondary promise to pay another's debt if they fail to perform. (correct)
- A verbal agreement that does not require written documentation.
- A promise that is conditional upon another party's performance.
- A primary obligation to pay one's own debts.
Which of the following statements best describes real property?
Which of the following statements best describes real property?
- It encompasses all physical objects permanently attached to the soil. (correct)
- It exclusively refers to the land itself.
- It does not include trees or fences.
- It includes only physical structures like buildings.
For a primary obligation to be valid, it is necessary that:
For a primary obligation to be valid, it is necessary that:
Which of the following contracts must be written to be enforceable according to the one-year rule?
Which of the following contracts must be written to be enforceable according to the one-year rule?
Which of the following is NOT a requirement for a collateral promise to be enforceable?
Which of the following is NOT a requirement for a collateral promise to be enforceable?
What aspect of contracts does the one-year rule primarily address?
What aspect of contracts does the one-year rule primarily address?
Which of the following is an example of a primary obligation?
Which of the following is an example of a primary obligation?
What characterizes undue influence in a contractual context?
What characterizes undue influence in a contractual context?
Which of the following best describes duress in contracts?
Which of the following best describes duress in contracts?
Under what circumstance will a court often presume undue influence occurred?
Under what circumstance will a court often presume undue influence occurred?
What does the Statute of Frauds require regarding certain contracts?
What does the Statute of Frauds require regarding certain contracts?
What is a requirement for contracts involving interests in land to be enforceable?
What is a requirement for contracts involving interests in land to be enforceable?
What legal remedy can be sought if duress is proven in a contract?
What legal remedy can be sought if duress is proven in a contract?
What must be demonstrated to claim undue influence?
What must be demonstrated to claim undue influence?
What does the requirement for writing in contracts aim to protect?
What does the requirement for writing in contracts aim to protect?
What characterizes a secondary obligation in contract law?
What characterizes a secondary obligation in contract law?
Under which circumstance can an oral promise to answer for a debt be enforceable?
Under which circumstance can an oral promise to answer for a debt be enforceable?
What is required for a unilateral promise made in consideration of marriage?
What is required for a unilateral promise made in consideration of marriage?
In the context of the UCC's Statute of Frauds, what is the minimum value for a contract for the sale of goods to require written evidence?
In the context of the UCC's Statute of Frauds, what is the minimum value for a contract for the sale of goods to require written evidence?
Which of the following is an exception to the Statute of Frauds concerning oral contracts?
Which of the following is an exception to the Statute of Frauds concerning oral contracts?
What must occur for a court to grant specific performance of a partially performed contract?
What must occur for a court to grant specific performance of a partially performed contract?
Which of the following correctly describes what constitutes an enforceable contract when oral agreements are involved?
Which of the following correctly describes what constitutes an enforceable contract when oral agreements are involved?
What does the Statute of Frauds primarily address in contract law?
What does the Statute of Frauds primarily address in contract law?
Study Notes
Real Property
- Land includes all physical objects attached to the soil, such as buildings, fences, trees, and the soil itself.
Contracts That Must Be In Writing
- Contracts that cannot be performed within one year from the day after the contract is made must be in writing to be enforceable.
- The time period starts the day after the contract is formed.
- Performance of a contract must be objectively impossible within one year for the contract to be required to be in writing.
Collateral Promises
- A collateral promise is a secondary promise to a primary transaction, such as a promise to pay another's debt if they fail to perform.
- Collateral promises must be in writing to be enforceable.
- A primary obligation is a promise to pay another person's debt that is not conditioned on the other person's failure to pay.
Undue Influence
- Undue influence occurs when one party greatly influences another, thus overcoming that party's free will, making the contract unenforceable.
- There must be clear and convincing evidence.
- There is a presumption of undue influence in certain situations, like a fiduciary relationship where the dominant party benefits.
Duress
- Duress is the use of threats to force a party to enter a contract.
- It can be a defense to enforcement of a contract or grounds for rescission.
Statute of Frauds
- All states have statute of frauds laws requiring certain contracts to be in writing.
- The party against whom enforcement is sought must have signed the contract.
- Contracts involving interest in land must be in writing.
Exceptions to the Statute of Frauds
- Partial performance: If a contract is partially performed and returning parties to their position prior to the contract’s formation is impossible, courts may grant specific performance.
- Admissions: If a party admits under oath that a contract for sale was made, the contract will be enforceable.
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Description
This quiz covers essential concepts related to real property, contract requirements, collateral promises, and undue influence. It explores the importance of written contracts and the legal implications of influence on contract enforceability. Test your understanding of these critical legal principles.
