Question 1

Frank and Melanie enter into a sales contract for a period of six months.After three months,Frank and Melanie agree to extend the contract for an additional 12 months.In the context of this scenario,discuss the rule that requires this contract to be in writing at the time of modification of the contract.

Accepted Answer

According to the Statute of Frauds,an ex...

Question 2

________ occurs when the party knows what he or she is signing but has been fraudulently led into the contract.

Accepted Answer

A)   Fraud in the factum
B)   Fraud in the inducement
C)   Fraud by concealment
D)   Misrepresentation of lawE) A) and C)
F) All of the above

Question 3

A(n) ________ occurs when one person agrees to answer for the debts or duties of another person.

Accepted Answer

A)   main purpose exception
B)   mortgage
C)   guaranty contract
D)   implied integrationE) A) and B)
F) A) and C)

Question 4

Which of the following is an example of duress?

Accepted Answer

A)   a plaintiff threatening the defendant that he will not drop the lawsuit until the defendant pays him a certain amount of money
B)   a teacher threatening a student that he will be expelled if he is found with cigarettes again
C)   a wife threatening to commit suicide if her abusive husband does not stop beating her
D)   a father using his dominant and fiduciary position to unduly influence his son into committing a crimeE) A) and B)
F) All of the above

Question 5

Which of the following must be proved to show undue influence?

Accepted Answer

A)   mutual agreement between two parties
B)   dominance on the servient party
C)   nonexistence of a relationship between two parties
D)   free will of the innocent partyE) B) and D)
F) C) and D)

Question 6

The Statute of Frauds is a state statute that requires that certain types of contracts must be in writing.

Accepted Answer

A) True 
 B)False

Question 7

________ is a situation in which one party threatens to do a wrongful act unless the other party enters into a contract.

Accepted Answer

A)   Scienter
B)   Duress
C)   Battery
D)   AssaultE) A) and B)
F) A) and D)

Question 8

Explain in detail the doctrine of promissory estoppel.

Accepted Answer

The doctrine of promissory estoppel,or e...

Question 9

The ________ requires certain contracts to be in writing and signed by the party against whom enforcement was sought.

Accepted Answer

A)   part performance exception
B)   common law of contracts
C)   equal dignity rule
D)   Statute of FraudsE) B) and C)
F) A) and B)

Question 10

Joe buys a trailer from a used-car dealership.During the sale,the dealer tells him that the trailer is in great condition.However,three days later,the trailer breaks down.Investigation by Joe reveals that the trailer had seven previous owners and that the engine has been replaced thrice.An automobile expert tells Joe that the trailer is in a dangerous state.Which of the following frauds would the dealer be liable for?

Accepted Answer

A)   fraud in the factum
B)   fraud in the inducement
C)   silence as misrepresentation
D)   misrepresentation of lawE) All of the above
F) A) and B)

Question 11

The ________ states that an executory contract which cannot be performed by its own terms within one year of its formation must be in writing.

Accepted Answer

A)   parol evidence rule
B)   common law of contracts
C)   merger clause
D)   one-year ruleE) B) and C)
F) B) and D)

Question 12

________ is a situation in which one person takes advantage of another person's mental,emotional,or physical weakness and unduly persuades that person to enter into a contract.

Accepted Answer

A)   Duress
B)   Undue influence
C)   Fraud
D)   ScienterE) A) and C)
F) B) and C)

Question 13

Which of the following occurs when one party intentionally hides a material fact from another party?

Accepted Answer

A)   fraud in the inducement
B)   fraud in concealment
C)   silence as misrepresentation
D)   misrepresentation of lawE) A) and C)
F) A) and D)

Question 14

Intentional misrepresentation is commonly referred to as ________.

Accepted Answer

A)   erroneous misrepresentation
B)   fraud
C)   duress
D)   undue influenceE) A) and D)
F) None of the above

Question 15

In which of the following situations is parol evidence admissible?

Accepted Answer

A)   when both the parties to a contract agree to it
B)   when a contract is not ambiguous
C)   in case the contract is in agreement with the Statute of Frauds
D)   in case of a contract made under duressE) A) and C)
F) B) and C)

Question 16

The Statute of Frauds and the UCC require a written contract,whatever its form,to be signed by the party against whom enforcement is sought.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is an interest in real property given to a lender as security for the repayment of a loan?

Accepted Answer

A)   lease
B)   mortgage
C)   life estate
D)   easementE) All of the above
F) A) and B)

Question 18

John buys a watch for $100 at a vintage store.Later,the store learns that the watch was worn by Sean Connery in a James Bond movie and wishes to rescind the sales contract they had with John.Which of the following statements is true in this regard?

Accepted Answer

A)   The store can rescind the contract immediately and refund $100 to John.
B)   The store can recover from John the difference between the value of the watch and the amount paid by John.
C)   The store can declare the contract void and pay John no money.
D)   The store cannot rescind or void the contract.E) A) and B)
F) A) and C)

Question 19

To prove fraud,it must be shown that the wrongdoer made a False representation of material fact.

Accepted Answer

A) True 
 B)False

Question 20

A contract that is entered into by means of fraudulent misrepresentation can be rescinded by the innocent party.

Accepted Answer

A) True 
 B)False

Exam 12: Genuineness of Assent and Statute of Frauds

The Statute of Frauds and the UCC require a written contract,whatever its form,to be signed by the party against whom enforcement is sought.

Correct Answer
verified

The ________ states that an executory contract which cannot be performed by its own terms within one year of its formation must be in writing.

Correct Answer
verified

Correct Answer
verified
According to the Statute of Frauds,an ex...
View Answer

Which of the following occurs when one party intentionally hides a material fact from another party?

Correct Answer
verified

In which of the following situations is parol evidence admissible?

Correct Answer
verified

Which of the following is an example of duress?

Correct Answer
verified

A contract that is entered into by means of fraudulent misrepresentation can be rescinded by the innocent party.

Correct Answer
verified

________ is a situation in which one person takes advantage of another person's mental,emotional,or physical weakness and unduly persuades that person to enter into a contract.

Correct Answer
verified

Explain in detail the doctrine of promissory estoppel.

Correct Answer
verified
The doctrine of promissory estoppel,or e...
View Answer

A(n) ________ occurs when one person agrees to answer for the debts or duties of another person.

Correct Answer
verified

The ________ requires certain contracts to be in writing and signed by the party against whom enforcement was sought.

Correct Answer
verified

John buys a watch for $100 at a vintage store.Later,the store learns that the watch was worn by Sean Connery in a James Bond movie and wishes to rescind the sales contract they had with John.Which of the following statements is true in this regard?

Correct Answer
verified

Correct Answer
verified

Which of the following must be proved to show undue influence?

Correct Answer
verified

The Statute of Frauds is a state statute that requires that certain types of contracts must be in writing.

Correct Answer
verified

Intentional misrepresentation is commonly referred to as ________.

Correct Answer
verified

To prove fraud,it must be shown that the wrongdoer made a False representation of material fact.

Correct Answer
verified

________ occurs when the party knows what he or she is signing but has been fraudulently led into the contract.

Correct Answer
verified

________ is a situation in which one party threatens to do a wrongful act unless the other party enters into a contract.

Correct Answer
verified

Which of the following is an interest in real property given to a lender as security for the repayment of a loan?

Correct Answer
verified

Exam 12: Genuineness of Assent and Statute of Frauds

The Statute of Frauds and the UCC require a written contract,whatever its form,to be signed by the party against whom enforcement is sought.

Correct AnswerverifiedShow Answer

The ________ states that an executory contract which cannot be performed by its own terms within one year of its formation must be in writing.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedAccording to the Statute of Frauds,an ex...View AnswerShow Answer

Which of the following occurs when one party intentionally hides a material fact from another party?

Correct AnswerverifiedShow Answer

In which of the following situations is parol evidence admissible?

Correct AnswerverifiedShow Answer

Which of the following is an example of duress?

Correct AnswerverifiedShow Answer

A contract that is entered into by means of fraudulent misrepresentation can be rescinded by the innocent party.

Correct AnswerverifiedShow Answer

________ is a situation in which one person takes advantage of another person's mental,emotional,or physical weakness and unduly persuades that person to enter into a contract.

Correct AnswerverifiedShow Answer

Explain in detail the doctrine of promissory estoppel.

Correct AnswerverifiedThe doctrine of promissory estoppel,or e...View AnswerShow Answer

A(n) ________ occurs when one person agrees to answer for the debts or duties of another person.

Correct AnswerverifiedShow Answer

The ________ requires certain contracts to be in writing and signed by the party against whom enforcement was sought.

Correct AnswerverifiedShow Answer

John buys a watch for $100 at a vintage store.Later,the store learns that the watch was worn by Sean Connery in a James Bond movie and wishes to rescind the sales contract they had with John.Which of the following statements is true in this regard?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following must be proved to show undue influence?

Correct AnswerverifiedShow Answer

The Statute of Frauds is a state statute that requires that certain types of contracts must be in writing.

Correct AnswerverifiedShow Answer

Intentional misrepresentation is commonly referred to as ________.

Correct AnswerverifiedShow Answer

To prove fraud,it must be shown that the wrongdoer made a False representation of material fact.

Correct AnswerverifiedShow Answer

________ occurs when the party knows what he or she is signing but has been fraudulently led into the contract.

Correct AnswerverifiedShow Answer

________ is a situation in which one party threatens to do a wrongful act unless the other party enters into a contract.

Correct AnswerverifiedShow Answer

Which of the following is an interest in real property given to a lender as security for the repayment of a loan?

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
According to the Statute of Frauds,an ex...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The doctrine of promissory estoppel,or e...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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