Law for Business International Edition 17th Edition by Janet Ashcroft – Test Bank

CHAPTER 11—WRITTEN CONTRACTS

YES/NO

1. Is one of the advantages of a written contract that its existence cannot be denied?

ANS: Y PTS: 1

2. Can an oral contract required under the Statute of Frauds to be in writing be set aside after it is fully performed?

ANS: N PTS: 1

3. Is an oral contract to sell mineral rights enforceable?

ANS: N PTS: 1

4. If Joe buys a painting on credit and asks the seller to deliver the painting to Margaret, must the transaction be in writing?

ANS: N PTS: 1

5. Is a promise to pay the debts of an estate from the personal funds of the executor considered a contract to become responsible for the debts of another?

ANS: Y PTS: 1

6. Must a promise to pay a sum of money to another in consideration of marriage be in writing to be enforceable?

ANS: Y PTS: 1

7. Must the note or memorandum required by the Statute of Frauds always set forth all the material terms of the transaction?

ANS: N PTS: 1

8. Does the parol evidence rule prohibit oral testimony of alteration when a written contract appears to be complete?

ANS: N PTS: 1

TRUE/FALSE

9. Oral contracts which are required by the Statute of Frauds to be in writing are illegal.

ANS: F PTS: 1

10. If one party has made part performance of an oral contract and would be hurt if the contract was not enforced, courts will allow enforcement of it.

ANS: T PTS: 1

11. If there is an oral contract to lease a building for 18 months and the building is occupied for that time, but the rent is not paid, payment can be compelled.

ANS: T PTS: 1

12. The Statute of Frauds only requires the party against whom a claim for breach of promise is made to have signed a note or memorandum.

ANS: T PTS: 1

13. A written contract that incorporates other writings into it cannot be modified by the other writings.

ANS: F PTS: 1

14. The Statute of Frauds applies only to executory contracts.

ANS: T PTS: 1