Legal env - made at the time of the Contract? 8. What is...

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1. Must all contracts be in writing in order to be enforceable? 2. If an Oral Contract to lease land is performed by the Owner of the Property allowing the other party to occupy the land, may the Owner recover any rent? 3. Why must a Contract that cannot be performed in one year be in writing in order to be enforceable? 4. Under what circumstances is the Statute of Frauds requirement of a writing UN-necessary when a person agrees to be responsible for the debt of another? 5. Why does the Statute of Frauds require the agreement of an executor to personally pay the debts of the Estate to be in writing? 6. What MUST be included in a note or memorandum required by the Statute of Frauds? 7. MUST the note or memorandum required by the Statute of Frauds be
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Unformatted text preview: made at the time of the Contract? 8. What is the impact of the Parol Evidence Rule on a written contract that appears to be complete? The parol evidence rule prohibits testimony from being introduced to change or add to the terms of a compete, written contract. 9. If a Contract is ambiguous and there is no oral evidence to clear up the ambiguity, how is it constructed? 10. When does the Parol Evidence Rule allow oral testimony when a written contract appears complete? The parol evidence rule does not permit any testimony to be introduced to vary, add to, modify, or contradict the terms of a written contract unless there is evidence of fraud, accident, or mistake so that the writing is in fact not a contract or is incomplete or ambiguous....
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This note was uploaded on 11/23/2009 for the course MIS 3112 taught by Professor Iosfhd during the Spring '09 term at Midwestern State University.

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Legal env - made at the time of the Contract? 8. What is...

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