Question 1

Which of the following is false regarding the statute of frauds and promises made in consideration of marriage?

Accepted Answer

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.F) B) and C)
G) B) and E)

Question 2

Set forth the eight exceptions to the parol evidence rule.

Accepted Answer

The exceptions are (1) contracts that ar...

Question 3

A donee beneficiary is a type of incidental beneficiary.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is a contractual party who agrees to receive something from the other party?

Accepted Answer

A)   Obligor
B)   Obligee
C)   Assignor
D)   Assignee
E)   BoundeeF) C) and D)
G) A) and B)

Question 5

Which of the following is needed in order for an assignment to be valid?

Accepted Answer

A)   A UCC 2-301 Form.
B)   A UCC 4-305 Form.
C)   A Business 2-547 Form.
D)   A Business 4-298 Form.
E)   No form is required.F) D) and E)
G) B) and C)

Question 6

Under the Uniform Commercial Code, contracts for the sale of goods totaling more than ___________ must be in writing.

Accepted Answer

A)   $200
B)   $300
C)   $500
D)   $600
E)   $1,000F) B) and E)
G) A) and D)

Question 7

A[n] ___________ beneficiary is a third party to a contract whom the contracting parties intended to benefit directly from their contract.

Accepted Answer

A)   Intended
B)   Incidental
C)   Preferred
D)   Collateral
E)   AncillaryF) A) and B)
G) D) and E)

Question 8

Which of the following is true regarding the statute of frauds requirement involving contracts that cannot be performed within one year?

Accepted Answer

A)   The one-year period begins to run the day after the contract is created, not when the contract is scheduled to begin.
B)   Even if it is highly unlikely that a contract will be completed within one year, a contract does not come within the statute of frauds if it could be completed within one year.
C)   If a party contracts for lifetime employment, the contract 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.F) B) and E)
G) C) and D)

Question 9

Which of the following are duties that typically cannot be delegated to a third party?

Accepted Answer

A)   Mowing a yard
B)   Payment of money owed
C)   Delivering goods
D)   Painting a house
E)   Painting a portraitF) A) and B)
G) A) and C)

Question 10

Which of the following are discussed in the text as possible exceptions to the statute of frauds?

Accepted Answer

A)   Admissions
B)   Partial performance
C)   Promissory estoppel
D)   Admissions, partial performance and promissory estoppel
E)   Admission and partial performance, but not promissory estoppelF) B) and C)
G) A) and C)

Question 11

Whenever a written agreement under the statute of frauds contains a serious and obvious typographical error, parol evidence is admissible to demonstrate that the error was indeed an error, as well as to set forth the proper term.

Accepted Answer

A) True 
 B)False

Question 12

What is the term for the third party who receives an assignment of contract rights?

Accepted Answer

A)   Transferor
B)   Transferee
C)   Relator
D)   Assignor
E)   AssigneeF) A) and B)
G) All of the above

Question 13

What types of contracts does the statute of frauds require to be in writing?

Accepted Answer

The types of contracts for which the sta...

Question 14

A donee beneficiary is a third party that benefits from a contract in which the promisor agrees to pay the promisee's debt.

Accepted Answer

A) True 
 B)False

Question 15

List and discuss two reasons why notice of assignment should be given.

Accepted Answer

Notice of assignment should be given bec...

Question 16

Against whom may a donee beneficiary generally enforce rights and why?

Accepted Answer

When a donee beneficiary may enforce her...

Question 17

In some states a promise to pay a debt that has already been discharged in bankruptcy must be in writing in order to be enforceable.

Accepted Answer

A) True 
 B)False

Question 18

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.

Accepted Answer

A) True 
 B)False

Question 19

A[n] ___________ is a statement made in court, under oath, or at some stage during a legal proceeding in which a party against whom charges have been brought admits that an oral contract existed, even though the contract was required to be in writing.

Accepted Answer

A)   Admission
B)   Submission
C)   Deposition
D)   Interrogatory
E)   ConfirmationF) A) and B)
G) B) and D)

Question 20

A ___________ beneficiary is a third party who benefits from a contract in which a promisor agrees to give a gift to a third party.

Accepted Answer

A)   Creditor
B)   Donee
C)   Incidental
D)   Promised
E)   AvowedF) C) and D)
G) B) and C)

Exam 12: Reality of Assent

What is the term for the third party who receives an assignment of contract rights?

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Which of the following are duties that typically cannot be delegated to a third party?

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Whenever a written agreement under the statute of frauds contains a serious and obvious typographical error, parol evidence is admissible to demonstrate that the error was indeed an error, as well as to set forth the proper term.

Correct AnswerverifiedShow Answer

Which of the following is needed in order for an assignment to be valid?

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Which of the following is false regarding the statute of frauds and promises made in consideration of marriage?

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Which of the following is true regarding the statute of frauds requirement involving contracts that cannot be performed within one year?

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Which of the following is a contractual party who agrees to receive something from the other party?

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A[n] ___________ is a statement made in court, under oath, or at some stage during a legal proceeding in which a party against whom charges have been brought admits that an oral contract existed, even though the contract was required to be in writing.

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Under the Uniform Commercial Code, contracts for the sale of goods totaling more than ___________ must be in writing.

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List and discuss two reasons why notice of assignment should be given.

Correct AnswerverifiedNotice of assignment should be given bec...View AnswerShow Answer

Which of the following are discussed in the text as possible exceptions to the statute of frauds?

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A donee beneficiary is a type of incidental beneficiary.

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Set forth the eight exceptions to the parol evidence rule.

Correct AnswerverifiedThe exceptions are (1) contracts that ar...View AnswerShow Answer

A ___________ beneficiary is a third party who benefits from a contract in which a promisor agrees to give a gift to a third party.

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In some states a promise to pay a debt that has already been discharged in bankruptcy must be in writing in order to be enforceable.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

What types of contracts does the statute of frauds require to be in writing?

Correct AnswerverifiedThe types of contracts for which the sta...View AnswerShow Answer

Against whom may a donee beneficiary generally enforce rights and why?

Correct AnswerverifiedWhen a donee beneficiary may enforce her...View AnswerShow Answer

A donee beneficiary is a third party that benefits from a contract in which the promisor agrees to pay the promisee's debt.

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A[n] ___________ beneficiary is a third party to a contract whom the contracting parties intended to benefit directly from their contract.

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Notice of assignment should be given bec...
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The exceptions are (1) contracts that ar...
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The types of contracts for which the sta...
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When a donee beneficiary may enforce her...
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