Process Essay: The Statute Of Fraud

Accounting to the Statute of Frauds , "if a contract is required to be in writing under the Statute of Frauds but is not, the contract is unenforceable. The parties may voluntarily perform a contract that is unenforceable." (Cheeseman, p158) Actually, they both signed a written agreement that "as is, without any warranties" after the Marge told Joan that she would fix any problems with the drivetrain that arose in the first 1,000 miles. The first 1,000 miles should had been written on the contract in order to become enforceable. Since the promise was made before the negotiation, there might have some change before the agreement was signs such as lower the price. So, Joan would not be honer for the first 1,000 miles warranties in this case as she signed "as is". Now, let's discuss the repair fee, Under UCC Statute of Frauds Section 2-201(1) A section of the Uniform Commercial Code which states that sales contracts for the sale of goods costing $500 or more must be in writing. (Cheeseman, 223) Since the repair fee was under $500 in this case, no writing contract needed to be made. Since the repair fee is in oral agreements that was made later and modify the

She signed the contract and addends and signed most of the signature lines, but not all of them and crossed off certain provisions she did not agree with. After not hearing from Ms. Norkunas for a week or so, the buyers were notified that she was taking her property off the market. The buyers immediately sued the seller for performance of the letter of intent she signed, which they felt entitled them to the property. During the discovery process, they found out she not only crossed out provision which they would have obliged to, but the fact that she signed the contract; they then sough performance for the contact.

if this is done, Wessel can not create a contract by accepting the revoked offer, Gregory. so as long as the contract do not express that how many time or how long Gregory offer Wessel monologue, he still have right to revocation the offer.

An agreement or contract can be rescinded if misrepresentation and fraud from a party is present. The McAllisters knew about the house’s issues before the sale and made fraudulent misrepresentation by stating that the I-beams are present for reinforcement when they were actually installed to keep a wall from buckling. The Silvas will be able to rescind the contract or agreement to buy the house or sue for damages.

The parties did have a contract for exclusive negotiation rights as stated in the case scenario. Big Time Toymaker (BTT) paid Chou $25,000 for a 90-day period of exclusivity, thus prohibiting Chou from soliciting or entertaining offers from other parties. The agreement stipulated that unless it was written no distribution contract existed. Prior to the 90-days elapsing, the parties reached an oral agreement and BTT sent Chou an e-mail titled “Strat Deal” covering the key terms of the distribution agreement reaffirming the oral agreement. This e-mail does not constitute a contract for several reasons. First, this was part of the negotiation process and Chou failed to draft the contract to “memorialize" the

The amount listed is the enrollment agreement was 10,020.00 which gives a difference of :

Was Brigitte Godot's offering of a trip to Paris merely sales talk or was it a legitimate offer? What controls: the written contract or oral agreement? Does Brigitte's offer of a bus ticket to Paris,Texas and P.A.Kettle's potential acceptance serve as a ratification of the Paris agreement, that is, can Brigitte's offer of the bus ticket serve as evidence that the Paris trip was part of the original contract and would P.A.Kettle's acceptance of the ticket serve as evidence of compromise ? What type of authority did Brigette have and what could P.A.Ketttle rely upon? How does the course of dealing between International Widgets and P.A.Kettle affect the case? Was there fraud in the inducement of the contract?

13.7 Carlin Krieg owned a dairy farm in St. Joe, Indiana, that was appraised at $154,000 in December 1997. In August 1999, Krieg told Donald Hieber that he intended to sell the farm for $106,000. Hieber offered to buy it. Krieg also told Hieber that he wanted to retain a “right of residency” for life in the farm. In October, Krieg and Hieber executed a “Purchase Agreement” that provided that Krieg “shall transfer full and complete possession” of the farm “subject to [his] right of residency.” The agreement also contained an integration clause that stated “there are no conditions, representations, warranties, or agreements not stated in this instrument.” In November 2000, the house was burned in a fire, rendering it unlivable. Hieber filed an insurance claim for the damage and received the proceeds, but he did not fix the house. Krieg filed a suit in an Indiana state court against Hieber, alleging breach of contract. Is there any basis on which the court can consider evidence regarding the parties’ negotiations prior to their agreement for the sale of the farm? Explain. [Krieg v. Hieber, 802 N.E.2d 938 (Ind.App. 2004)]

Most contracts are valid despite the fact that they may be only oral. Dan was knowledgeable that Pat wanted to buy a home, which she was not financially qualified to purchase. Consequently, he offered to purchase the home and sell it to her, when she had the capital to do so. The statement of Don to Pat, “When you come up with the money, I will sell the home to you for $250,000, plus a fair commission to be determined”, and Pat’s search and identification of a suitable home, and Dan’s purchase supports each intent to be bound.

In order to have a valid contract, Marsha should make an offer to buy the car and Jim has to accept it given the fact that all terms of sale has been agreed on.

1. The three aspects of fraud - Perceived pressure, Rationalization, and Opportunity were present in the CIT case as follows:

I believe that the Statute of Frauds is designed to prevent fraudulent claims of existence of a contract. I believe it makes it harder to make such a false or fraudulent claims by requiring the claimant to have proof other than just testimony that a contract existed before the claimant gets its day in court.

Worker's Compensation is a service that provides reimbursement for lost wages to employees who have sustained injuries from work or work-related tasks. It is also one of the services that is most often the victim of fraud. Each of the three types of fraud, claimant, employer, and provider, is defined by the same characteristics, outlined by the Ohio Board of Workers Compensation:

They went ahead to confirm their verbal agreement by paying an amount that partly makes them show desire to purchase the automobile. In return, with mutual understanding the salesman keeps the car and calls them to confirm if the purchase would be completed. A contract that is legally binding does exist here. There are factors in this scenarios that show a legally binding agreement is in existence.

A business can not work out without an account system, which includes internal. Internal controls are used by companies to make sure financial information is accurate and valid. Strong internal controls are signs of a financially healthy company and protect the company’s integrity. Strong internal controls can also increase a company’s profitability. There are several types of internal controls that companies used to protect themselves such as: Segregation of duties, asset purchases, supervisor review, internal audits and adequate documents and records. This paper will discuss several topics from a case study about And the Fraud