UGBA 175 Midterm 2
Types of Statute of Frauds Contracts - correct answer Surety
Executor-Administrator
Marriage Consideration
Land Interest Transfer
Goods $500+
Contracts that cannot be fulfilled within a year
Suretyship - correct answer Undertaking to pay the debt or be liable for the default of another
Executor-Administrator - correct answer Contractual promises of an executor of a decedent's will to
answer personally for a duty of the decedent
One-year provision - correct answer Contractual obligations that CANNOT be fulfilled within a year of
AGREEMENT
Possibility Test - correct answer CAN the contract be fulfilled within 1 year? Death is included, therefore
need not be written
Contracts of indefinite duration are excluded
Sale of Goods - correct answer Goods sold for $500 or more must be in writing
Specially Manufactured Goods - correct answer Oral contracts are enforced for substantial performance
on specially manufactured goods
General Contract Provisions (Common Law) - correct answer Specify parties
Specify subject matter
Essential terms of unperformed obligations
, Signed by defendant
Contract Provisions (UCC) - correct answer Specify quantity
Sufficient to indicate that contract has been made
Signed by party against whom enforcement is sought
Restitution - correct answer Even if the contract is not in writing, if a party acts in reliance upon the
contract, they may recover in restitution the benefits he conferred upon the other in relying upon the
unenforceable contract
Parol Evidence Rule - correct answer When a contract is expressed in a writing that is intended to be the
complete and final expression of the rights and duties of the parties, parol evidence of prior oral or
written negotiations or agreements of the parties, or their contemporaneous oral agreements that vary
or change the written contract, are not admissible
Only applies to written contracts
Assignment of Rights - correct answer the voluntary transfer to a third party of the rights arising from the
contract; and effective assignment terminates the assignor's right to receive performance by the obligor
Delegation of Duties - correct answer a transfer to a third party of a contractual obligation.
Law Governing Assignments - correct answer May be oral
No consideration required
Gratuitous assignments are unenforceable
Rights that are not Assignable - correct answer Assignments that Materially Increase the Duty, Risk, or
Burden
When the assignment would significantly change the nature or extent of the obligor's duty
2) Assignments of Personal Rights
When the rights under a contract are highly personal, in that they are limited to the person of the
obligee, such rights are not assignable
Types of Statute of Frauds Contracts - correct answer Surety
Executor-Administrator
Marriage Consideration
Land Interest Transfer
Goods $500+
Contracts that cannot be fulfilled within a year
Suretyship - correct answer Undertaking to pay the debt or be liable for the default of another
Executor-Administrator - correct answer Contractual promises of an executor of a decedent's will to
answer personally for a duty of the decedent
One-year provision - correct answer Contractual obligations that CANNOT be fulfilled within a year of
AGREEMENT
Possibility Test - correct answer CAN the contract be fulfilled within 1 year? Death is included, therefore
need not be written
Contracts of indefinite duration are excluded
Sale of Goods - correct answer Goods sold for $500 or more must be in writing
Specially Manufactured Goods - correct answer Oral contracts are enforced for substantial performance
on specially manufactured goods
General Contract Provisions (Common Law) - correct answer Specify parties
Specify subject matter
Essential terms of unperformed obligations
, Signed by defendant
Contract Provisions (UCC) - correct answer Specify quantity
Sufficient to indicate that contract has been made
Signed by party against whom enforcement is sought
Restitution - correct answer Even if the contract is not in writing, if a party acts in reliance upon the
contract, they may recover in restitution the benefits he conferred upon the other in relying upon the
unenforceable contract
Parol Evidence Rule - correct answer When a contract is expressed in a writing that is intended to be the
complete and final expression of the rights and duties of the parties, parol evidence of prior oral or
written negotiations or agreements of the parties, or their contemporaneous oral agreements that vary
or change the written contract, are not admissible
Only applies to written contracts
Assignment of Rights - correct answer the voluntary transfer to a third party of the rights arising from the
contract; and effective assignment terminates the assignor's right to receive performance by the obligor
Delegation of Duties - correct answer a transfer to a third party of a contractual obligation.
Law Governing Assignments - correct answer May be oral
No consideration required
Gratuitous assignments are unenforceable
Rights that are not Assignable - correct answer Assignments that Materially Increase the Duty, Risk, or
Burden
When the assignment would significantly change the nature or extent of the obligor's duty
2) Assignments of Personal Rights
When the rights under a contract are highly personal, in that they are limited to the person of the
obligee, such rights are not assignable
