Statute of frauds coverage and satisfaction Bar Exam Flashcards - Medical Study Cards
Master Statute of frauds coverage and satisfaction with Oncourse flashcards. These spaced repetition flashcards are designed for medical students preparing for NEET PG, USMLE Step 1, USMLE Step 2, MBBS exams, and other medical licensing examinations.
Statute of frauds coverage and satisfaction Flashcard Deck - 7 Cards
Flashcard 1: What writing is generally sufficient to satisfy the Statute of Frauds for a sale of goods under the UCC?
Answer: A writing sufficient to indicate that a contract for sale has been made and signed by the party to be charged is sufficient, but it is enforceable only up to the quantity of goods stated in the writing. The writing need not contain every term.
Flashcard 2: What types of agreements are within the Statute of Frauds?
Answer: The traditional categories are suretyship promises, agreements made in consideration of marriage, transfers of interests in land, contracts that cannot be performed within one year, and UCC sales of goods priced at $500 or more. The applicable statute and modern amendments may change the goods-price threshold.
Flashcard 3: What are the three biggest takeaways regarding the Statute of Frauds?
Answer: 1. Classify the agreement (common-law category or UCC goods $500+) before inspecting the writing. 2. The writing must be signed by the party against whom enforcement is sought. 3. For UCC goods, the writing must state a quantity, which caps the maximum enforceable quantity.
Flashcard 4: Identify the quantity limits for the UCC Statute of Frauds exceptions of admission in court and payment or acceptance.
Answer: For admission in court, enforcement is limited to the quantity the party admitted. For payment or acceptance, enforcement is limited to the quantity paid for or the quantity of goods received and accepted.
Flashcard 5: Under UETA, what constitutes an electronic signature and what is its legal effect?
Answer: An electronic signature is an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted with intent to sign. Under UETA, an electronic signature cannot be denied legal effect merely because it is electronic, satisfying a signature requirement if the parties agreed to conduct the transaction electronically and the intent to sign is present.
Flashcard 6: What are the principal defenses of incapacity, illegality, and unconscionability?
Answer: A minor or mentally incapacitated person generally may disaffirm a contract, an agreement for an illegal purpose is unenforceable when enforcement would violate public policy, and an unconscionable contract or term may be refused enforcement or limited by the court. Unconscionability commonly requires both procedural unfairness in formation and substantively oppressive or one-sided terms, though the required degree of each may vary.
Flashcard 7: What must be shown to establish fraudulent misrepresentation as a defense to enforcement?
Answer: The defendant must show a material or fraudulent false assertion of fact, made with knowledge of its falsity or recklessness, intended to induce assent, actual and justifiable reliance, and resulting harm. The remedy is generally rescission, with damages potentially available for fraud.
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