BLW 201 Chapter 15

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Author:
bobdylan
ID:
22330
Filename:
BLW 201 Chapter 15
Updated:
2010-06-06 16:58:54
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BLW BLW
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Chapter 15 terms
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  1. Contracts within the Statute of Frauds
    contracts within the statute of frauds must be evidenced by a writing to be enforceable
  2. electronic records
    full effect is given to electronic contracts and signatures
  3. suretyship provision
    applies to promises to pay the debts of others
  4. promise must be collateral
    promisor must be secondarily, not primarily, liable
  5. main purpose doctrine
    if primary object is to provide an economic benefit to the surety, then the promise is not within the statute
  6. executor-administrator provision
    applies to promises to answer personally for duties of decendents
  7. mariage provision
    applies to promises made in consideration of marriage but not to mutual promises to marry
  8. land contract provision
    applies to promises to transfer any rights, privileges, powers or immunities in real property
  9. one-year provision & 3 criterias
    • applies to contracts that cannot be performed within one year
    • 1. the possibility test
    • 2. computation of time
    • 3. full performance by one party
  10. the possibility test
    the citerion is whether it is possible, not likely, for the agreement to be performed within one year
  11. computation of time
    the year runs from the time the agreement is made
  12. full performance by one party
    makes the promise of the other party enforceable under majority view
  13. sales of goods
    a contract for the sale of goods for the price of $500 or more must be evidenced by a writing or record to be enforceable
  14. admission
    an admission in pleadings, testimony, or otherwise in court makes the contract enforceable for the quantity of goods admitted
  15. specially manufactured goods
    an oral contract for specially manufactured goods is enforceable
  16. delivery or payment and acceptance
    validates the contract only for the goods that have been accepted or for which payment has been accepted
  17. modification or recission of contracts within the statute of frauds
    oral contracts modifying existing contracts are unenforceable if the resulting contract is within the statute of frauds
  18. general contract law, 3 things:
    • specify the parties to the contract
    • specify the subject matter and essential terms
    • be signed by the party to be charged or by her agent
  19. compliance of sales of goods (3 things)
    • (1) be sufficent to indicate that a contract has been made between the parties
    • (2) be signed by the party against whom enforcement is sought or by her authorized agent
    • (3) specify the quantity of goods to be sold
  20. written confirmation
    between merchants, a written confirmation that is sufficient against the sender is also sufficient against the recipient unless the recipient gives written notice of his objection within ten days
  21. full performance
    statute does not apply to executed contracts
  22. restitution
    is available in quasi contract for benefits conferred in reliance on the oral contract
  23. promissory estoppel
    oral contracts will be enforced where the party seeking enfocement has reasonably and justifiably relied on the promise and the court can aviod injustice only by enforcement
  24. parole evidence rule and 5 instances where it does not apply
    when parties express a contract in a writing that they intend to be the complete and final expression of their rights and duties, evidence of their prior oral or written negotiations or agreements of their contemporaneous oral agreements that vary or change the written contract are not admissible

    a contract that is not an integrated document, correction of a typographical error, showing that a contract was void or voidable, showing whether a condition has in fact occurred, and showing a subsequant mutual rescission or modification of the contract

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