Chapter 13- The Statute of Frauds Questions and Answers.

Types of contracts that need to be in writing - Answer 1. Contracts involving interests in land 2. Contracts that cannot by their terms be performed within one year from the day after the date of formation 3. Collateral contracts, such as promises to answer for the debt or duty of another 4. Promises made in consideration of marriage 5. Under the uniform commercial code, contracts for the sale of goods prices at $500 or more Contracts involving land - Answer Ordinarily involves buildings, growing crops, vegetation, minerals, timber, and anything else permanently attached to the land. A fixture is treated as real property. Requires written contract not just for sale of land but also for transfer of other interests in land The one year rule - Answer Contracts that are impossible to complete in a year and a day must be in writing to be enforceable. If there is any hypothetical where they can be completed before a year and a day, and oral contract is enforceable Collateral promises - Answer Primary vs secondary obligations -primary: co-sign -secondary: guarantor Secondary must be in writing to be enforceable UNLESS under main purpose rule Main purpose rule - Answer The guarantors purpose in secondary liability is for their own benefit therefore an oral contract is enforceable Promises made in consideration of marriage - Answer -Dowry: parents pay someone to marry their child -prenuptial agreement: contract regarding who keeps the assets in a divorce -contracts not to marry someone are illegal Contracts for the sale of goods - Answer The uniform commercial code states that contracts between merchants that sell goods of a kind for a value of $500 must be in writing Exceptions to statute of frauds - Answer 1. Partial performance 2. Admittance