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Exam 15: Contracts in Writing

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Question 21

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Where a contractual term has more than one possible meaning,it will be interpreted in favor of the party who supplied the contract.

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Question 22

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The suretyship provision rule within the statute of frauds applies to cases involving one party promising to perform the duty of another party to yet a third party.

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Question 23

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Which of the following is true regarding noncompliance with the statute of frauds?

Barry's Sport Shop calls Champion Tee Shirt Company to order 200 designer tee shirts at $2 per shirt.The next day,Barry decides he can easily sell 100 more.Before the order is filled,he calls to change the order to 300 tee shirts.Champion sends 200.Can Barry force Champion to send the additional 100?

The suretyship provision has been interpreted to include promises made to a debtor.

The parol evidence rule is:

Clara types a letter to David setting forth the terms of their contract that falls within the statute of frauds.At the end of the letter,she types her name but does not sign her signature to it.If David wants to use the letter to satisfy the writing requirement,he may do so.

In which of the following cases will an oral contract for the sale of goods of $750 be enforceable without a writing?

In order to induce a car dealer to sell her son a car on credit,Mary promises that she will pay for the son's car if the son defaults on his monthly payments to the dealership.Mary's promise must be in writing or have a sufficient electronic record.

Under the Code an oral contract for specially manufactured goods costing $500 is enforceable even if the seller has not begun their manufacture.

The part performance exception to the land contract provision of the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.

The statute of frauds has to do with fraud in the inducement of a contract.

Under the UCC,a(n) __________ is a practice or method of dealing regularly observed and followed in a place or vocation or trade.

The UCC Article 2 statute of frauds provision applies to the sale of goods for the price of __________ or more.

A collateral promise is an undertaking to be primarily liable for the principal debtor's debt.

In interpreting a contract,terms which have been separately negotiated are given priority over standardized pre-printed terms.

E-Sign was enacted by Congress in 2000 and makes electronic records and signatures valid and enforceable across the United States for many types of transactions in or affecting interstate or foreign commerce.

Most types of contracts are valid without being written.

Sam,a shopkeeper,dies unexpectedly at the age of 46.His lifelong business associate,Paul,is appointed the administrator of the estate.Sam had a personal debt of $8,000 which he owed to Art's Appliance Store.Paul says to Art,"If there isn't enough money in the estate,I'll personally see that the bill is paid." Which of the following is correct?

Under the UCC,__________ refers to the manner and extent to which the respective parties to a contract have accepted successive tenders of performance by the other party without objection.