Term
| True of false: For a contract to be within the Statute of Frauds' land-sale provision, the sale of the interest in land must be the transaction's predominant purpose. |
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Definition
| False. A contract is within the land-sale provision even if the sale of the interest in land is just a portion of what the promisor is selling the promisee. |
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Term
| True or false: A contract between adjacent landowners fixing the boundary line of the two parcels is within the land-sale provision. |
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Definition
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Term
| True or false: A contract between joint tenants or tenants in common to partition the parcel into separate tracts is within the Statute of Frauds' land-sale provision. |
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Definition
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Term
| True or false: The Statute of Frauds' land-sale provision covers a promise to refrain from transferring land. |
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Definition
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Term
| True or false: The Statute of Frauds' land-sale provision covers a contract to split the profits if the land is sold. |
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Definition
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Term
| True or false: A contract between a landowner and a real estate broker, under which the landowner promises to pay the broker a commission upon the sale of land, is within the Statute of Frauds' land-sale provision. |
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Definition
| False. The contract between the landowner and the broker involves the payment for a service, and does not involve the sale of an interest in land. |
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Term
| True or false: For purposes of the Statute of Frauds, an "interest in land" is defined narrowly. |
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Definition
| False. It generally includes any interest in land under property law that is not "goods" under the U.C.C., including present and future interests, long-term leaseholds (usually more than one year), easements, profits (unless governed by the U.C.C.), and restrictive covenants. |
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Term
| Most states excluded leases of what duration from the Statute of Frauds' land-sale provision? |
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Definition
| One year or shorter, irrespective of when the lease term begins. |
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Term
| True or false: A license is not considered an "interest in land" under the Statute of Frauds' land-sale provision. |
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Definition
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Term
| When is a contract involving the severance of things from land considered a contract for the sale of an interest in land (and thus governed by the land-sale provision of the Statute of Frauds) and when is such a contract considered a contract for the sale of goods (and thus governed by the U.C.C.'s Statute of Frauds, if the price is $500 or more)? |
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Definition
| A contract for the sale of minerals and the like (including oil and gas) or a structure (or the structure's materials), which is to be removed from the land, is a contract for the sale of goods if the items are to be removed by the seller. If the buyer is to sever, it is a contract for the sale of an interest in land (such a contract grants the buyer a "profit," and is the privilege to enter another's land to remove something from it). A contract for the sale of growing crops, timber, or other things attached to land (other than the items previously mentioned) is a contract for the sale of goods irrespective of who is to do the severing, as long as it can be severed without material harm to the land. |
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Term
| Is a mortgage considered the sale of an "interest in land" under the Statute of Frauds? |
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Definition
| Courts are divided on the issue. |
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Term
| Is a long-term lease covered by the Statute of Frauds' one-year provision? |
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Definition
| Yes, unless it is for a term of one year or shorter, irrespective of when the lease term begins. |
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Term
| Under the Statute of Frauds' one-year provision, the one-year period is measured from what point? |
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Definition
| The time of contract formation, not the start of performance. |
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Term
| When does the one year period expire under the Statute of Frauds' one-year provision? |
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Definition
| Midnight at the end of the one-year anniversary of making the contract, even if the contract was formed earlier than midnight. |
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Term
| True or false: With respect to the Statute of Frauds' one-year provision, the parties' subsequent restatement of the contract's terms starts the one-year period again as long as the subsequent manifestation of mutual assent would be sufficient in the absence of the prior agreement. |
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Definition
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Term
| Under the Statute of Frauds' one-year provision, what does "to be performed within one year" mean under the majority rule? |
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Definition
| Under the majority rule, it simply means that it was possible, at the time of contract formation, that the contract could have been fully performed by both parties within one year of formation, even if it was very unlikely and even if it turned out not to be fully performed within one year of formation. |
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Term
| Under the Statute of Frauds' minority rule, what does "to be performed within one year" mean? |
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Definition
| The intent and understanding of the parties, at the time of contract formation, was that performance by both parties would not take longer than one year from the date of contract formation (the "intent" approach). |
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Term
| True or false: Under the majority rule, a lifetime contract is not within the Statute of Frauds' one-year provision because the party could die within one year of contract formation. |
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Definition
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Term
| True or false: Excusable non-performance constitutes performance under the Statute of Frauds' one-year provision. |
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Definition
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Term
| True or false: Any contract, with a price of $500 or more, is within the Statute of Frauds. |
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Definition
| False. The "$500 or more" provision only applies to a contract for the sale of goods. |
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Term
| True or false: With respect to the U.C.C.'s Statute of Frauds, it is the contract price, not the goods' value, that determines whether the contract is within the Statute of Frauds. |
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Definition
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Term
| True or false: If several items are being purchased, each item less than $500 but in the aggregate $500 or more, the contract is within the U.C.C.'s Statute of Frauds provision if the purchases are considered part of the same transaction. |
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Definition
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