Chapter_15

Chapter_15 - Chapter15 ContractsinWriting Background

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    Chapter 15 Contracts in Writing
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    Background Oral contracts are enforceable if their  terms can be established in court.   However, certain contracts are to be  written and if it is oral or the terms are  ambiguous, it is unenforceable and  neither part is bound by its terms. 
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    Statute of Frauds For these contracts a writing or a  memorandum of the writing are required  and it must be signed by party to be  charged.  Both parties do not have to have signed  contract. 
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    Contracts for sale of land  If these aren’t in writing, they are  unenforceable unless a party can come  within an exception to law.  A lease of real estate for a term longer  than one year in Texas must be in  writing. 
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    Part Performance—Estoppel  Oral contracts partially performed may  protect contract from statute of  limitations.  Exceptions (2 of 3 must be met):  Paid part of purchase price  Take possession of the land  Added substantial improvements 
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  Contracts not to be performed  within one year  If contract capable of being performed  within one year, although performance  actually takes place on later date, courts  will enforce oral contract. Computation of time when the 
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This note was uploaded on 03/08/2010 for the course BL 3305 taught by Professor Nunley during the Fall '09 term at Baylor.

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Chapter_15 - Chapter15 ContractsinWriting Background

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