Exam (elaborations)
LEGL 4400 Test 1a questions and answers verified 2024
- Course
- Institution
LEGL 4400 Test 1a questions and answers verified 2024
[Show more]
Content preview
LEGL 4400 Test 1Statue of Frauds
- Land contract provision
- One year provision
- Sale of goods ($500)
- Any changes for these must be in writing
Land contract provision
provision applies to promises to transfer any rights, privileges, powers or
immunities in real property
One year provision
- applies to contracts that cant be performed within one year
-- The possibility test- the criterion is whether it is possible, not likely for the
agreement to be performed within one year
-- Computation of time- the year runs from the time the agreement is made
-- Full performance by one party- makes the promise of the other party
enforceable under majority view
Sale of goods provision
- a contract for the sale of goods for the price of 500 or more must be in
writing to be enforceable
, -- Admission
-- Specially manufactured goods
-- Delivery or payment and acceptance
Specially manufactured goods
(Under Sale of Goods Prov.) an oral contract for these types of goods is
enforceable
Delivery or payment and acceptance
(Under Sale of Goods Prov.) validates the contract only for the goods that
have been accepted or for which payment has been accepted
Admission
(Under Sale of Goods Prov.) a(n) ________ in pleadings, testimony, or
otherwise in court makes the contract enforceable for the quantity of goods
admitted
Parol Evidence Rule
A substantive rule of contracts under which a court will not receive into
evidence the parties' prior negotiations, prior agreements, or
contemporaneous oral agreements if that evidence contradicts or varies the
terms of the parties' written contract.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LEWISSHAWN55. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81849 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now