Chapter 13 - completed within 1 year from the date of the...

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Question #1\ a) Under the Statute of Fraud the contract do not have to be in writing to be enforceable if it takes less than 1 year to perform the services contracted. It is legal to start working under an oral contract, and thus, in case of a lawsuit, such oral agreement will be enforceable. b) The contract that takes more than 1 year to perform from the date of the agreement must be in writing to be enforceable. In our example, the circumstances demand the contract to be in writing since it takes 1 year and 1 month to perform the services contracted. c) The contract that takes more than 1 year to perform from the date of the agreement must be in writing to be enforceable. In the given situation if it would take 2 years to complete the research, then the contract must be in writing. But if the research would be
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Unformatted text preview: completed within 1 year from the date of the agreement, then the contract can be just an oral one to be enforceable. Question #5 Most likely the appeal would not change the previous judgment result. The evidence of a prior negotiation contradicts a term of the written contract. The parol evidence rule stands for those who orally agreed on the terms of a future contract and placed those agreed terms in the contract. Only written clauses will be enforced if any argument arises after a contract was signed and performed. In our case, the buyer cannot demand extra $9,000 from the seller of the car if there is no written evidence exists. The parol evidence rule applies once parties have agreed to a final, written contract....
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This note was uploaded on 03/11/2011 for the course ACC 101 taught by Professor Corolinsky during the Spring '11 term at SUNY Albany.

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