TJ_Comp 20_TB_Ch17

TJ_Comp 20_TB_Ch17 - Chapter 17WRITING, ELECTRONIC FORMS,...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Chapter 17WRITING, ELECTRONIC FORMS, AND INTERPRETATION OF CONTRACTS TRUE/FALSE 1. A failure to sign and return a written contract establishes that there is not a contract. ANS: F MSC: AACSB Analytic 2. The statute of frauds applies to a five-year contract of employment that is terminated during the first year by the death of one of the parties. ANS: T MSC: AACSB Analytic 3. Under the statute of frauds, an oral contract must be completed within one year after performance be- gins. ANS: F MSC: AACSB Analytic 4. When a contract may be terminated at will by either party, the statute of frauds is not applicable be- cause the contract may be terminated within one year. ANS: T MSC: AACSB Analytic 5. Agreements between a buyer and her attorney concerning the purchase of real property must be in writing to be enforceable. ANS: F MSC: AACSB Analytic 6. A promise to grant a mortgage on real property does not require written proof because it is not a trans- fer of land. ANS: F MSC: AACSB Analytic 7. The statute of frauds applies to promises to answer for another party's debt, but does not apply to a promise to answer for another party's default. ANS: F MSC: AACSB Analytic 8. A promise to pay an attorney a fee owed by a third person can be enforced without a writing. ANS: F MSC: AACSB Analytic 9. If a personal representative of an estate makes a contract on behalf of the estate, a writing is not re- quired. ANS: T MSC: AACSB Analytic 10. A father's oral promise to his daughter and her fiance made in consideration of their contemplated marriage is binding when made in the course of a serious discussion. ANS: F MSC: AACSB Analytic 11. A contract for the sale of goods with a price of $500 or more requires written proof to be enforceable. ANS: T MSC: AACSB Analytic 12. A writing required by the statute of frauds may be in any form. ANS: T MSC: AACSB Analytic 13. A signed letter from an employer setting forth details of an oral contract of employment satisfies the statute of frauds. ANS: T MSC: AACSB Analytic 14. When a contract falls within the statute of frauds, the signatures of both parties must be shown to the court. ANS: F MSC: AACSB Analytic 15. An insurance company cannot refuse to pay the fire loss of the buyer of a house on the grounds that the sales contract for the house was not binding because it was not properly signed. ANS: T MSC: AACSB Analytic 16. Under the majority view, a contract that does not satisfy the statute of frauds is voidable. ANS: T MSC: AACSB Analytic 17. A person who is prevented from enforcing a contract because of the statute of frauds also is prevented from recovering the value of services, property, or money furnished the other party to the oral contract....
View Full Document

This note was uploaded on 02/22/2012 for the course BUS BUS212 taught by Professor Manney during the Spring '12 term at FSU.

Page1 / 9

TJ_Comp 20_TB_Ch17 - Chapter 17WRITING, ELECTRONIC FORMS,...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online