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BCL – L1 – SA – Q27 – Contract Law

Which contracts fall under the statute of frauds?

Question

In most states the following types of contracts are within the statute of frauds:
A Contracts for the sale of an interest in personal property.
B Contracts that can be performed within a year from the date of their formation.
C Contracts for the sale of goods.
D Contracts for the sale of goods for a price of $500 or more.

Answer

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Tags: Contract Law, Sale of Goods, Statute of Frauds, UCC
Level: Level 1

Topic: Contract Law

BCL – L1 – SA – Q24 – Contract Law

Back-Talk offers to sell servers to Gatekeeper, who requests faster delivery. Is there a contract?

Question

On May 1, Back-Talk Computer Store offered to sell five (5) computer servers to Gatekeeper Company for $5,000.00 each, delivery to be on May 30. Later that day (May 1), Gatekeeper responded that it would buy the computers only if they were delivered within three business days. Back-Talk notified Gatekeeper the next day, May 2, that it would not be able to deliver the goods within the time requested by Gatekeeper. Which of the following is true regarding Back-Talk’s offer?

A There is no contract between Back-Talk and Gatekeeper.

B Gatekeeper’s additional term became part of the contract, so Back-Talk is obligated to deliver the goods within three business days.

C Back-Talk’s offer was accepted by Gatekeeper.

D Gatekeeper may later accept Back-Talk’s May 1 offer if it is then willing to accept delivery in four weeks.

Answer

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Tags: Acceptance, Contract Law, Counteroffer, Offer, UCC
Level: Level 1

Topic: Contract Law

BCL – L1 – SA – Q21 – Contract Law

Sammy sues Larry for non-payment of $400 for a car after 8 years. Is the contract enforceable?

Question

Sammy agreed to sell, and Larry agreed to buy Sammy’s car for $400, payable upon delivery. Sammy delivered and left the car with Larry. However, Larry failed to pay Sammy the $400. After eight years had passed following the delivery and acceptance of the car by Larry, Sammy sued Larry in state court for failure to pay him the $400. Based only on the above stated facts, which of the following statement is most accurate? Assume the UCC applies and the statute of limitations for oral contracts is two years and for written contracts is four years.

A No contract was ever created between Sammy and Larry.

B A contract was created but likely not enforceable because the statute of limitations has expired.

C A contract was created, but it is only enforceable if it is in writing.

D A contract was created and is enforceable.

Answer

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Tags: Breach of Contract, Contract Law, Enforceability, Statute of Limitations, UCC
Level: Level 1

Topic: Contract Law

Tag (SQ): UCC

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BCL – L1 – SA – Q27 – Contract Law

Which contracts fall under the statute of frauds?

BCL – L1 – SA – Q24 – Contract Law

Back-Talk offers to sell servers to Gatekeeper, who requests faster delivery. Is there a contract?

BCL – L1 – SA – Q21 – Contract Law

Sammy sues Larry for non-payment of $400 for a car after 8 years. Is the contract enforceable?

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BCL – L1 – SA – Q27 – Contract Law

Which contracts fall under the statute of frauds?

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BCL – L1 – SA – Q24 – Contract Law

Back-Talk offers to sell servers to Gatekeeper, who requests faster delivery. Is there a contract?

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BCL – L1 – SA – Q21 – Contract Law

Sammy sues Larry for non-payment of $400 for a car after 8 years. Is the contract enforceable?

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