Chapter 13

__________ is one of the essential elements of a valid contract.
Legality of purpose

To be enforceable, a contract must be:
In writing

The parole of evidence rule:
Reefers to supplementary evidence or conditions to be added to an existing written contract

It is stated that the terms of a written contract may not be changed by evidence of an prior agreements but may be explained, or supplemented, in the:
Uniform Commercial Code (UCC)

Oral evidence introduced after. Contract is signed is legal accepted if it clarifies some point in the:
Written agreement

Consistent oral statements may:
Not be introduced into evidence if a contract is in writing

All of the following are true of the Statute of Frauds, EXCEPT:
It applies to executory and executed contracts

The statute of Frauds only specifies that certain contracts must be in writing to be:
Enforceable

The Statute of Frauds applies only to:
Executory contracts

That certain kinds of contracts should be in writing is a requirement under the:
Statute of Frauds

Competency of parties is not a mandatory requirement to make a contract valid.
False

The parole evidence rule states that any spoken or written words that are in conflict with what the written contract states cannot be introduced as evidence in a court of law.
True

The parole evidence rule refers to the addition of supplementary evidence or conditions that a party wants added to a written contract.
True

Oral evidence introduced after a contract is signed ma be legally accepted if it clarifies some point in a written agreement.
True

The Statute of Frauds prohibits a person from legal entering into oral contracts for certain kinds of agreements.
False

The Statute of Frauds applies to executory contracts only.
True

Agreements by an executor or administrator to pay debts of a deceased Edson must be in writing to be enforceable.
True

A guaranty, or promise, to pay the debts or entitle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.
True

An oral promise, or guaranty, to pay the debts or settle the wrongdoings of another enforceable only if made on behalf of family members.
False

If the life of an agreement is indefinite and could be completed within a year, the agreement need not be in writing to enforceable.
True