blaw chap 14

oral contracts

Agreements made verbally; generally enforceable unless they fall under the Statute of Frauds.

clases of contracts covered by statute of frauds

MY LEGS

executors role

Manages the estate, converts property into cash, and follows the will’s instructions.

estate debts

Bills left behind when someone passes; paid before heirs get anything.

statute of frauds

A legal rule requiring certain contracts to be in writing to be enforceable.

parol evidence rule

Once parties sign a final written contract, earlier oral or written statements (outside the contract) can’t be used to change or contradict its terms.

exceptions to parol evidence rule

evidence of fraud, failure of consideration

rules of interpretation

objective standard, plain meaning, incorporation by reference, whole contract

if there is ambiguity

reasonable intent, strict construction against drafting party

hierarchy in written dcouments

handwritten, typewritten, pre printed

part performance(exception to statue of fraud)

Actions speak louder than words; if you've started the deal, it proves the contract exists.

promisor benefit(exception to statue of frauds)

If the person who made the promise got a clear benefit from the deal, it may be enforced even without a written contract.

detrimental reliance(exception to statute of frauds)

If someone relied on a promise and got hurt (financially or otherwise) because of it, the court might still enforce the contract.

part payment(exception to statute of frauds)

Payment made and accepted can show agreement in goods/contracts.

judicial admission(exception to statute of frauds)

If someone admits in court that there was a contract, then it can be enforced—written or not.

source of missing terms

ways in which a court can fill in gaps in a contract when certain terms are not specified.

source of missing terms sources

CUGS

course of dealing(source of missing term)

Past behavior between the parties that shows how they have previously handled similar situations or transactions.

course of performance(source of missing term)

The way the parties have performed under the current contract over time, helping to clarify missing terms based on their actions.

usage of trade(course of mssing term)

The industry standards or customs that are common in the relevant market

Marraige(s of frauds applies to)

Promises made in consideration of marriage.

Year(statute of frauds applies to)

Contracts that can’t be performed within one year.

Land(statute of frauds applies to)

Contracts for sale or transfer of land or real estate.

executor(statute of frauds applies to)

Promise to pay estate debts out of personal funds.

Goods(statute of frauds applies to)

Sale of goods $500 or more (UCC).

Surety(contract of goods applies to)

Promise to pay someone else’s debt (guarantee).

gap fillers(source of missing terms)

Standard rules the law supplies when terms are missing (like price, delivery, etc.).