Contracts – Oral, Written and Guaranty

1. The Statute of Frauds requires that certain types of contracts:
(a) be in writing in order for the parties to avoid criminal penalties.
(b) be in writing in order to be enforceable.
(c) be recorded in land records.
(d) have two or more attorneys present at the signing of a written contract.

2. Assuming the existence of a complete and final written contract, the parol evidence rule would prohibit the use of evidence of:
(a) prior or contemporaneous oral statements that alter, contradict, or add to the terms of the contract.
(b) prior or contemporaneous oral statements that explain ambiguities in the contract.
(c) subsequent written statements that modify the contract.
(d) performance of the contract by one or both of the parties.

3. Two adults enter into an oral contract for the sale and purchase of some land. All material facts were disclosed by the seller to the buyer. Which is true?
(a) This contract is void because land is not tangible personal property.
(b) This contract is unenforceable because of the Statute of Frauds.
(c) Because the parties are adults, it is certain that there is no problem with capacity.
(d) This is a unilateral contract if only one party transfers land.

 

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