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9 Cards in this Set

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  • Back
What are the Ks WITHIN the Statute of Frauds (writing required)?
1. Transfer of interest in real property.
2. K incapable of full performance within a year of the date the agreement was made
3. Suretyship: a promise to "answer for" the debt of another (back-up promise)
4. Art 2: sale of good of $500 or more
5. Art 2: Lease of goods for $1000 or more
Is a writing required for a physical task?
No, not for one that could be completed within a year.
Standard: Ignore what "might have happened" and not what actually happens.
When does the SOF apply to a modification?
Only if the contract as modified falls within the SOF.
Under a K other than a sale of goods, what kind of writing will satisfy the SOF?
Writing must contain:
1. All material terms
2. Signature by party asserting a SOF defense (D)
Under a K for a sale of goods, what kind of writing will satisfy the SOF?
Writing must contain:
1. A quantity term
2. Signature by the party asserting a SOF defense.
What are the exceptions to the SOF (where there's very little chance of fraud)?
1. Full performance of Ks within the 1-yr prong
2. Part performance in contracts for the transfer of an interest in real property.
3. Main purpose exception for a suretyship
4. Sale of goods:
a. Goods accepted by B or paid for by B
b. Custom-made goods
c. Judicial admission
d. Merchants' confirmatory memo
What is a merchants' confirmatory memo?
A merchant can use a writing IT has signed to satisfy SOF against the other party to the alleged contract if:
1. Both parties are merchants
2. The writing claims there is a prior oral agreement; and
3. The recipient doesn't object in writing within 10 days.
What is the typical scenario for the merchants' confirmatory memo?
2 merchants agree over the phone and one follows up with a written confirmation. Art 2 ensures that the oral agreement is enforceable by allowing a merchant to use its own confirmatory memo to satisfy the SOF against the other merchant.
ESTOPPEL generally doesn't do any good in terms of SOF. What is the fact pattern in which reliance makes a difference in SOF?
ex. Employer orally promises to draw up a written employment agreement for 2-year term but it doesn't.

Then employee is relying on employer's promise to reduce to writing.