1. Based upon the reading in the hornbook, what was the likely result of casebook problem 13 in chap

1. Based upon the reading in the hornbook, what was the likely result of casebook problem 13 in chapter 13, Section 3?
Do not have hornbook
A The rescission was not effective because even if the parties agree to terminate a written contract, if the contract is still executory it cannot be orally rescinded.
B The rescission was effective because most courts allow an oral rescission of a written contract.
C The rescission was not effective unless the defendant changed his position in reliance on the rescission.
D The rescission was not effective because oral rescissions are never allowed for contracts that are within the Statute of Frauds
 
2. Which of the following is a well-recognized exception to the suretyship contracts covered by the Statute of Frauds?
A The main purpose rule.
B The joint obligor rule.
C The principal-surety rule.
D The special promise rule.

3. Based upon your reading of the Potter v Hatter Farms, Inc. case, which statement was not true regarding the applicability of the doctrine of promissory estoppel?
A Every contract or duty within the Uniform Commercial Code imposes an obligation of good faith.
B The elements of promissory estoppel are actual reliance, definite and substantial change of position and foreseeability to the promissory, as a reasonable person, that the promise would induce conduct of the kind that occurred.
C Promissory estoppel was displaced by UCC 2-201 because this doctrine was not expressly mentioned in that statute.
D Substantial evidence to satisfy the requirements of promissory estoppel was present.
 
4. Which of the following statements about a promise by an executor or administrator is not true?
A A promise by an administrator or executor to pay a claim out of the assets of the decedent’s estate is within the Statute of Frauds.
B The term “within the Statute of Frauds” means that the Statute of Frauds requires a record for this kind of transaction.
C An executor or administrator can promise to pay a debt of an estate from his own funds.
D A promise by an administrator or executor to pay a claim out his own personal funds is within the Statute of Frauds.

"Is this question part of your assignment? We can help"

ORDER NOW