Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
5 Cards in this Set
- Front
- Back
|
Mnemonic for applicability of the Statute of Frauds?
|
PM SIGNS:
Personal property more than $5000 Marriage Suretyship Interest in Land Goods momre than $500 Nor performable within a year Securities |
|
|
Exceptions to the applicability of the Statute of Frauds?
|
1. Full performance by both sides
2. Seller conveys property to buyer 3. Buyer pays all or part of the purchase price AND performs some act explainable only by a contract (like constructing buildings) 4. Promissory estoppel 5. Waiver (including not raising defense) |
|
|
If a contract is silent on these matters, are duties delegable?
|
Yes, as long as the obligee does not have an interest in the delegor performing. e.g. if the service is personal, and delegating materially affects performance, it cannot be delegated.
|
|
|
When are rights not assignable?
|
Those that materially affect the other party's duty, risk or chance of performance. E.g. personal services, rights under future contracts, requirements and output contracts, and assignments contrary to public policy.
|
|
|
What are examples of assignments contrary to public policy?
|
Assignment of government pension rights or alimony.
|
