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Chapter Quiz
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1
The __________ serves to protect promisors from poorly considered oral contracts by requiring that certain contracts be in writing
A)Ordinance of forgeries
B)Ordinance of frauds
C)Statute of forgeries
D)Statute of frauds
2
Which of the following contracts does not "fall within" the Statute of Frauds writing requirement?
A)A contract whose terms cannot be performed within one year from the date of the contract's making
B)A contract made in consideration of marriage
C)A contract for one party to pay the debt of another party if the other party fails to pay
D)A contract for the sale of goods totaling $50
3
Which of the following is not term referring to an agreement whereby a third party promises to pay the debt owed by another party upon default?
A)Secondary promise
B)Collateral promise
C)Suretyship promise
D)Illusory promise
4
For promissory estoppel to be in effect, the party's reliance must be to their own __________
A)Detriment
B)Dissuasion
C)Lack of knowledge
D)Good faith opinion
5
The __________ rule states that oral evidence of an agreement made prior to or contemporaneously with the written agreement is inadmissible when the parties intend to have a written agreement be the complete and final version of the agreement
A)Equal dignity
B)Promissory estoppel
C)Parole evidence
D)Statute of frauds
6
Which of the following is not an exception to the parole evidence rule?
A)A contract that has been subsequently modified by the parties
B)A contract involving real estate
C)A contract conditioned on orally agreed-upon terms
D)All of the above are valid exceptions to the parole evidence rule
7
A(n) __________ transfers his/her contractual rights to a third party
A)Assignor
B)Assignee
C)Consignor
D)Consignee
8
A(n) __________ occurs when a party to a contract transfers his/her duty to perform to a third party who is not part of the original contract
A)Accord
B)Satisfaction
C)Delegation
D)Assignment
9
__________ of rights refers to the maturing of rights such that a party can legally act on the rights
A)Vesting
B)Vacating
C)Diminution
D)Transfer
10
__________ beneficiaries cannot sue to enforce contract obligations
A)Third party
B)Incidental
C)Direct
D)Intended







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