Self Check Chapter 16 Quiz (WK5)

Self Check Chapter 16 Quiz (WK5) - Self Check Chapter 16...

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Self Check Chapter 16 Quiz (WK5) Bilateral, executory contracts that cannot be performed within one year from the  day on which they come into existence must be in writing to be enforceable. A) True B) False 2 All contracts for $500 or more must be in writing in order to be enforceable. A) True B) False 3 An oral contract for the sale of land which has been fully performed may be  enforced. A) True B) False 4 Renee hired Max, a painter, to paint her house for $4,500, supplying the paint and  services. Assume that the value of the paint alone exceeds $500 in value. If so,  the agreement, to be valid, must be in writing. A) True B) False 5 Will has lived in his apartment on a month-to-month lease for three years. Under  these circumstances, Will and the landlord must have a written agreement to  create any duty. A) True B) False 6 Which of the following contracts are generally within the statute of frauds? A) Contracts that transfer a property interest to another. B) A promise by an executor to pay the estate's debt out of his funds. C) Contracts where the promisor promises to pay the debt of another if the  primary debtor fails to pay. D) All of the above
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7 Which of the following types of contracts must be evidenced by a writing under  the statute of frauds? A) Contracts for the sale of land or real estate. B) Contracts for the sale of goods. C) Contracts for the sale of goods for a price of $500 or more. D) Both a and c. 8
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Self Check Chapter 16 Quiz (WK5) - Self Check Chapter 16...

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