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7 Cards in this Set

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Classes of K covered-110
a. Classes of K’s covered-R110
a. The following classes of K’s are subject:
i. A K of an executor or administrator to answer for a duty of his decedent
ii. A K to answer for the duty of another (surety)
iii. A K made upon the consideration of marriage
iv. A K for the sale of an interest in land
v. A K that is not to be performed within one year from the making thereof
i. K for the sale of goods for the price of $500 or more
ii. A contract for the sale or personal property otherwise covered
K not to be performed within a year-130
a. Where any promise in a K cannot be fully performed within a year from the time the K is made, all promises in the K are within the SOF until one party to the K completes his performance
b. When one party to a K has completed his performace, the one year provision of the SOF does not prevent enforcement of the promises of other parties
Requirements of the Memorandum-131
a. Unless additional requirements are prescribed by the particular statute, a K within the SOF is enforceable if it is evidenced by any writing, signed by or on behalf of the party to be charged, which
i. Reasonably identifies the subject matter of the K
ii. Is sufficient to indicate that a K with respect thereto has been made between the parties or offered by the signer to the other party and
iii. States with reasonable certainty the essential terms of the unperformed promises in the K
Several Writings-132
a. The memo may consist of several writings if one of the writings is signed and the writings in the circumstances clearly indicate that they relate to the same transaction
e. The signature can be a symbol or a signature, but is must be signed by the party the action is being brought against
Enforcement by Virtue of teh ACtion in Reliance-139
1. A promise which the promisor should reasonably expect to induce action or forbearance on the part of the promisee or a third person and which does induce the action or forbearance is enforcenable notwithstanding the SOF if injustice can be avoided only by enforcement of the promise. The remedy is limited as justice requires…
a. The availability and adequacy of other remedies, particualry cancellation and restitution
b. The definite and substantial character of the action or forebearance in relation to the remedy sought
c. The extent to which the action or forbearance corroborates evidence of the making and terms of the promise, or the making the terms are otherwise cleary established
d. The reasonableness of the action or forebearance
e. The extent to which the action or forbearance was foreseeable by the promisor