__________ is one of the essential elements of a valid contract.
Legality of purpose
To be enforceable, a contract must be:
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:
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:
The Statute of Frauds applies only to:
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.
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.
The parole evidence rule refers to the addition of supplementary evidence or conditions that a party wants added to a written contract.
Oral evidence introduced after a contract is signed ma be legally accepted if it clarifies some point in a written agreement.
The Statute of Frauds prohibits a person from legal entering into oral contracts for certain kinds of agreements.
The Statute of Frauds applies to executory contracts only.
Agreements by an executor or administrator to pay debts of a deceased Edson must be in writing to be enforceable.
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.
An oral promise, or guaranty, to pay the debts or settle the wrongdoings of another enforceable only if made on behalf of family members.
If the life of an agreement is indefinite and could be completed within a year, the agreement need not be in writing to enforceable.