Statute Of Frauds

Front 1

Compliance and enforcability

Back 1

failure to comply with the statue of frauds will render a contract uneforceable

Front 2

R2-K statute of frauds
REQUIRED CONTRACTS

Back 2

"a contract of an executor to answer for a duty of his decedent
a contract to answer for the duty of another
a conract made upon consideration of marriage
a contract for the sale of an interest in land

a contract that is not to be perfromed within one year of the making of the contract

Contracts for the sale of goods involving a price of $500 or more (in amended UCC 2-201(1)- $5000 or more)

Contract in which one party becomes a surety (acts as a guarantor) for another’s debt or obligation"

Front 3

Testamentary dispositions

Back 3

Some contracts require a written testament to accompany it, others require witnesses

Front 4

Steps for determining if the issue is one that the SOF applies

Back 4

1)"is it within the statute?
2)is the statute of frauds satisfied? (written statement?)
3)if no to #2, are there other factors that might invoke an exception to the statutory bar?"

Front 5

Does a paper have to be intended to evidence a contract?

Back 5

NO, it is enough to meet the statute’s demands to be signed with intent to authenitcate the information contained. The writings have to contain all the essential terms of a contract

Front 6

Must the memo be in one paper?

Back 6

"no it... it can be pieced together from separate writings. If there is only a signing of some documents and not in others, there must be a sufficient connection permitting the papers to be considered as part of the memo

many courts require the signed documents to refer to the same subject matter or transaction"

Front 7

Parol evidence and the determination of SOF

Back 7

serves to connect the separate documents and to show that there is assent to the contents of a memo that is unsigned. Testimony has to convincingly connect the papers... (think oral evidence... take the P off parol)

Front 8

One year clause

Back 8

"if a contract is not performed in one year, it must be made in writing
This will not apply if it is POSSIBLE to be performed in a year, even if the prospect of that performance is remote"

3. Just because contract can be ended within year does not remove contract from statute requirement
a. If a party has the power to terminate within 1 year, can get around statute of frauds
i. IE contract for 5 years can get around statute if provision for termination within 30 days’ notice to other party

Front 9

What is a signature?

Back 9

"broad findings
preprinted wording on memos with a corporate logo and a “from the desk of” could serve as signature, memo written on crayon could be, etc"

Front 10

Promissory estoppel instead of Statute of Frauds

Back 10

"only when injustice can be only avoided by enforcing the promise
look at - availability of other remedies
definite and substantial character of the action in relation to remedy sought

extent to which action corroborates evidence of making and terms of promise, or making and terms established by clear and convincing evidence

reasonableness of the action
extent to which the action or forbearance was foreseeable by the promisor"

Front 11

Analysis of these issues for exam

Back 11

"what law applies? (Common law, UCC, CISG)
Is there a contract?
Is there an authority to make a promise?
Is there consideration?
Does the Statute of Frauds apply?
What about promissory estoppel?
Restitution theories?"

Front 12

R2-K CONSIDERATION

Back 12

"a performance or return promise must be barained for
performance is bargained for if it is sought by the promisor in exchange for his promise and is given in exchenge of that promise

performance can be an act, forbearance, or creation, modification, or destruction of a legal relation

performance may be given to promisor or another person"

Front 13

Admission of an agreement in court

Back 13

Takes away the defense of the statute of frauds

Front 14

Does a check that is unsigned on the back satisfy the SOF under the UCC?

Back 14

No it does not...there has to be some form of agreement by both parties. Otherwise I could just deliver a check to anyone and say i paid for the item

Front 15

UCC Writing Requirement for SOF

Back 15

"is a bare minimum... the writing indicates a contract for sale as been made.
A term agreed upon (the money owed) can be omitted in the memo and the agreement can still go forward as a contract."

Front 16

Limits of the UCC Writing requirement

Back 16

the enforcement is limited to the quantity shown in the writing (but can be interpreted broadly)

Front 17

Specially manufactured goods

Back 17

if a good is manufactured to a client’s specifications, and not sold in normal course of business, the ere is an exception to the statute of frauds

Front 18

CISG and SOF

Back 18

Has no formal writing requirements... a contract does not need to even be written and can be proved by witnesses.

Front 19

Confirmation exception and merchants

Back 19

"if one merchant sends a writing sufficient to satisfy the statute of frauds to another merchant, the merchant has reason to know the ccontents of the sent confirmation and the reciever does not object to the confirmation with in 10 days, the confirmation is good to satisfy the statute as to both parties

The receiving merchant does NOT have to sign to confirm

To preserve the statute of frauds defense, one must raise a WRITTEN objection as a merchant"