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Discussion Questions On The Statute Of Frauds

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Bus 201 Spring 2009 Final Prof. Isler May 28, 2009 The final exam will be given at 8:10 and will end at 10:10. In the True/False section mark "a" for True and "b" for False. In the multiple choice section you should select the best answer. Raw exam scores, the exam and exam answers will be posted today by 5:00 PM. The exam is not cumulative. Place only your Student ID Number on your Scantron not your name. Five questions will be deducted if your name or Social Security Number is placed on your Scantron. There are one hundred questions on this exam which makes up forty-five percent of your overall grade. I would suggest that you also write your answers on your exam in addition to your Scantron as you will be allowed to keep the …show more content…

A general contractor who knows that a subcontractor 's bid is a mistake cannot enforce the bid. ____ 13. A seller 's failure to disclose a serious defect about a product for sale may give rise to an action for fraud. ____ 14. One of the elements of fraudulent misrepresentation is the innocent party 's reliance on the misrepresentation. ____ 15. Under the Statute of Frauds, a contract that is in writing is void. ____ 16. The Statute of Frauds requires that fraud must be proved by a writing. ____ 17. The Statute of Frauds requires that certain types of contracts must be in writing to be enforceable. ____ 18. A written contract for a transfer of land is enforceable. ____ 19. Giving notice is not legally required to establish the validity of an assignment. ____ 20. Performance under a contract may be conditioned on the occurrence of a certain event. ____ 21. Performance under a contract may not be conditioned on the nonoccurrence of an event. ____ 22. A promise to perform subject to being able to obtain financing is an example of a condition precedent. ____ 23. A novation occurs when a contract is canceled and the parties are returned to the positions they occupied before the contract. ____ 24. Subjective impossibility discharges a contract. ____ 25. A breach of contract entitles the breaching party to sue for damages. ____ 26. Bankruptcy proceedings are held in state bankruptcy courts. ____ 27. A debtor must be insolvent to

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