chap 13

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Questions and Answers

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?

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?

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:

It does not condition on the performance of another person. Signup and view all the answers

Which of the following contracts must be written to be enforceable according to the one-year rule?

A contract to build a house that takes more than a year. Signup and view all the answers

Which of the following is NOT a requirement for a collateral promise to be enforceable?

It must be verbal if the primary obligation is also verbal. Signup and view all the answers

What aspect of contracts does the one-year rule primarily address?

The necessity for written evidence under certain circumstances. Signup and view all the answers

Which of the following is an example of a primary obligation?

A promise to deliver goods by a certain date. Signup and view all the answers

What characterizes undue influence in a contractual context?

It results from one party dominating another's free will. Signup and view all the answers

Which of the following best describes duress in contracts?

The use of physical or psychological threats to compel agreement. Signup and view all the answers

Under what circumstance will a court often presume undue influence occurred?

When a fiduciary relationship benefits the dominant party. Signup and view all the answers

What does the Statute of Frauds require regarding certain contracts?

Certain contracts must be in writing or evidenced by a written memorandum. Signup and view all the answers

What is a requirement for contracts involving interests in land to be enforceable?

They must be in writing or evidenced by a written memorandum. Signup and view all the answers

What legal remedy can be sought if duress is proven in a contract?

Rescission of the contract. Signup and view all the answers

What must be demonstrated to claim undue influence?

That a party acted without free will due to another's influence. Signup and view all the answers

What does the requirement for writing in contracts aim to protect?

Provide clear and enforceable terms to both parties. Signup and view all the answers

What characterizes a secondary obligation in contract law?

It only takes effect if the primary debtor defaults. Signup and view all the answers

Under which circumstance can an oral promise to answer for a debt be enforceable?

When the promise is made in writing. Signup and view all the answers

What is required for a unilateral promise made in consideration of marriage?

It must be documented to be enforceable. Signup and view all the answers

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?

$500 Signup and view all the answers

Which of the following is an exception to the Statute of Frauds concerning oral contracts?

Partial performance by either party. Signup and view all the answers

What must occur for a court to grant specific performance of a partially performed contract?

The parties cannot be returned to their status before the contract. Signup and view all the answers

Which of the following correctly describes what constitutes an enforceable contract when oral agreements are involved?

Admissions under oath by one party can validate it. Signup and view all the answers

What does the Statute of Frauds primarily address in contract law?

The requirements for certain contracts to be in writing. Signup and view all the answers

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.