Take Test: Unit V Assessment

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Instructions

Question Completion Status:

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Question 1

1.  

   If a contract requires that a party to the contract perform specific obligations that are expected to take 2 years to complete, what circumstance would remove that contract from the statute of frauds requirement that contracts that cannot be performed within 1 year be in writing?

   		No circumstance would remove the contract from the statute of frauds' requirement that the contract be in writing because all contracts that cannot be performed within a year must be in writing.
   		If the contract was between two business entities, the contract would not have to be in writing.
   		If there is a possibility that the obligations under the contract could be performed in less than a year after the contract was made, the contract would not have to be in writing.
   		If the parties to the contract agree that the contract will be enforceable even though it is not in writing, the contract would not have to be in writing.

6 points  

Question 2

1.  Partial performance is an exception to the statute of frauds requirement that a contract be in writing to be enforceable because:
   

   		the actions of the parties in partially performing the contract demonstrate the existence of the contract and the terms of the contract.
   		once performance of obligations required in a contract begin, that performance must be completed.
   		partial performance is considered to be an admission that the parties to the contract have carefully considered the obligations they assumed in making the contract.
   		under English common law, any action under a contract makes a party to the contract responsible for fully performing the contract.

6 points  

Question 3

1.  If a party to a contract performs almost all of their obligations under the contract and has not intentionally failed to perform the obligations under the contract that they have not completed:
   

   		a court may find that there has not been a breach of contract according to the substantial performance doctrine.
   		they have breached the contract.
   		a continuing condition has not been satisfied.
   		the contract is voidable.

6 points  

Question 4

1.  

   If a specific future event terminates a party's obligations under a contract, that future event is called a(n):

   		foreseeable event.
   		continuing condition.
   		avoidable condition.
   		condition subsequent.

6 points  

Question 5

1.  One of the primary purposes of the statute of frauds requirement that a contract be in writing is:
   

   		that courts do not favor verbal contracts.
   		to provide reliable evidence that a contract exists.
   		to ensure that lawyers are involved in the making of all contracts.
   		to ensure that contracts involving large sums of money are precise.

6 points  

Question 6

1.  

   If an unforeseen event occurs after a contract has been made that makes one of the party's performance under the contract prohibitively more expensive than was contemplated when the contract was made:

   		the party whose performance is now more expensive still has to perform their obligations under the contract.
   		that party's obligation to perform under the contract can be cancelled under the doctrine of commercial impracticability.
   		the parties to the contract will have to renegotiate the terms of the contract.
   		the contract is automatically breached.

6 points  

Question 7

1.  If a party to a contract unjustifiably fails to perform their obligations under a contract:
   

   		substantial performance will save them from having breached the contract.
   		that party can avoid breaching the contract by creating a novation.
   		a material breach of the contract has occurred.
   		the contract is cancelled.

6 points  

Question 8

1.  Does an agreement to get married have to be in writing to be enforceable?
   

   		No, a mutual promise to marry does not have to be in writing.
   		Yes, promises made in consideration of marriage are required to be in writing.
   		Yes, if the date of the marriage is to be more than 1 year from the date of the agreement.
   		Yes, if the parties to the agreement are citizens of different states.

6 points  

Question 9

1.  Impossibility of performance can relieve a party from performance of their obligations under a contract if:
   

   		an unforeseen event causes performance of the obligations to be physically impossible.
   		the contract specifically provides that performance is forgiven.
   		the contract is in writing.
   		an event that was expected when the contract was made occurs.

6 points  

Question 10

1.  Mortgages and leases must be in writing to be enforceable because:
   

   		they cannot be performed within 1 year.
   		they involve more than one party.
   		the payment of money is involved.
   		they are considered to be transfers of interests in real estate.

6 points  

Question 11

1.  

   Bill and Spenser entered into a contract on March 1, 2019, which required Spenser to build a house according to plans and specifications supplied by Bill. Under that contract, Spenser was required to begin work on the house by April 1, 2019, and complete the house by April 15, 2020. Was that contract required to be in writing? Why, or why not?

   Your response must be at least 75 words in length.

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