ch16 - Ch.16 Quiz Instructions Please read the questions...

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Ch.16 Quiz Instructions Please read the questions carefully. This assessment is worth 100 points. 1. The statute of frauds applies to all contracts of $500 or more. (5 points) True False 2. The statute of frauds covers all contracts that by their terms cannot be performed within one year. (5 points) True False 3. The statute of frauds covers contracts in which marriage is the consideration. (5 points) True False 4. In order to satisfy the writing requirement of the statute of frauds, both parties must sign the writing. (5 points) True False 5. It is easier to satisfy the writing requirement imposed by the UCC's statute of frauds provision than it is to satisfy the writing requirements most states impose on other contracts covered by the statute of frauds. (5 points) True False 6. Some courts allow promissory estoppel to bind parties to oral contracts that otherwise would be unenforceable under the statute of frauds. (5 points) True False 7. Parol evidence can be used to contradict the terms of a partially integrated contract. (5 points) True False 8. Parol evidence can be used to resolve ambiguities in a completely integrated written contract. (5 points) True
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False 9. In general, ambiguities in a written agreement are resolved against the party who drafted the agreement. (5 points) True False 10. If the parties make an agreement that is partly printed and partly handwritten, the handwritten provisions prevail over the printed
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This note was uploaded on 02/28/2012 for the course ACCT 460 taught by Professor Charley during the Spring '12 term at Aachen University of Applied Sciences.

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ch16 - Ch.16 Quiz Instructions Please read the questions...

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