Describe california law on the issue of the one-year rule


Questions:

1. Which of the following is the best description of the Statute of Frauds?
A Only written contracts are enforceable.
B All written contracts must have definite and certain terms.
C Only certain types of contracts need to be in writing.
D If a written agreement is available, it is the only evidence admissible to prove the terms of that agreement.

2. Based upon the reading in the hornbook, what would be the likely result of casebook problem 18 in chapter 13, Section 5?
A. I don t have the hornbook
B. No, because D s promise was an oral suretyship agreement.
C. Yes, because D s promise was original since TP did not become liable to C and, therefore, there was no suretyship relationship between D and C.
D. Yes, because C delivered the goods.

3. No, because C manifested an intent not to treat TP as her debtor.
Regarding the contracts not performable within a year provision of the Statute of Frauds, which of the following statements is true?
A It applies to any agreement where complete performance does not actually occur within one year for the time the agreement was entered into.
B It applies to any agreement that might not be completed within a year.
C It applies if the contract is to pay a sum at the death of a named person.
D The test is not how long the performance will take, but instead when it will be complete

4. Based upon your reading of the Ehrlich v. Diggs case, which statement best describes California law on the issue of the one-year rule?
A Full performance by both parties is required to exempt an oral contract from the Statute of Frauds.
B Oral contracts terminable within one year by either party are exempt from the Statute of Frauds.
C The center of gravity test applies.
D Since the contract was not completed with a year the Statute of Frauds did not apply.

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Accounting Basics: Describe california law on the issue of the one-year rule
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