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Assesment 5

Assesment 5

Q • Question 1 6 out of 6 points If a verbal contract should be in writing according to the statute of frauds, but a party to the contract relies on the contract and takes some action to their detriment: • Question 2 6 out of 6 points If a contract requires that a party to the contract perform specific obligations that are expected to take 2 years to complete, what circumstance would remove that contract from the statute of frauds requirement that contracts that cannot be performed within 1 year be in writing? • Question 3 6 out of 6 points If A and B make a contract and then, with A's consent, C replaces B in the contract: • Question 4 0 out of 6 points If a specific future event terminates a party's obligations under a contract, that future event is called a(n): • Question 5 6 out of 6 points Partial performance is an exception to the statute of frauds requirement that a contract be in writing to be enforceable because: • Question 6 6 out of 6 points Impossibility of performance can relieve a party from performance of their obligations under a contract if: • Question 7 6 out of 6 points If a party to a contract unjustifiably fails to perform their obligations under a contract: • Question 8 6 out of 6 points Is a prenuptial agreement that is in writing always enforceable? • Question 9 6 out of 6 points Does an agreement to get married have to be in writing to be enforceable? • Question 10 6 out of 6 points If a party to a contract performs almost all of their obligations under the contract and has not intentionally failed to perform the obligations under the contract that they have not completed: • Question 11 15 out of 20 points Bill and Spenser entered into a contract on March 1, 2019, which required Spenser to build a house according to plans and specifications supplied by Bill. Under that contract, Spenser was required to begin work on the house by April 1, 2019, and complete the house by April 15, 2020. Was that contract required to be in writing? Why, or why not? Your response must be at least 75 words in length. • Question 12 15 out of 20 points 4-H and Chuck, a farmer, entered into a verbal contract that required Chuck to deliver 20,000 bushels of corn to 4-H when Chuck harvested the corn crop on his farm. Chuck planted enough corn on his farm to produce the 20,000 bushels of corn that he was required to deliver to 4-H, but as the corn was growing, a severe storm dumped excessive amounts of rain on Chuck's farm and damaged his corn crop. When Chuck harvested his corn crop, he was only able to salvage 7,000 bushels of corn and could not deliver the 20,000 bushels that he had agreed to deliver to 4-H. Does Chuck have a defense to breach of the contract with 4-H? What is that defense? Your response must be at least 75 words in length.

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Correct Answer: If there is a possibility that the obligations under the contract could be performed in less than a year after the contract was made, the contract would not have to be in writing.