buslaw12-form of agreement
TRANSCRIPT
-
8/9/2019 Buslaw12-Form of Agreement
1/22
1. Identify the types of agreements that mustbe in writing.
2. List the essential information that shouldbe included in a written memorandum.
3. Explain the parol evidence rule.
FORM OF THE
AGREEMENT
Chapter Outcomes:
Chapter 12
-
8/9/2019 Buslaw12-Form of Agreement
2/22
4. Compare the best evidence rule with theequal dignities rule.
5. Illustrate various methods of writing a
signature.
6. Discuss the use of witnesses,
acknowledgments, the seal, and recordings.
FORM OF THE
AGREEMENT
Chapter 12
Chapter Outcomes (continued):
-
8/9/2019 Buslaw12-Form of Agreement
3/22
Oral Contracts
1212--11
Oral contracts are contracts based
upon implied or express statementsthat are not supported by writing.
-
8/9/2019 Buslaw12-Form of Agreement
4/22
The Statute of Frauds
Contracts that must be in WritingDefinition of a Writing
1212--22
-
8/9/2019 Buslaw12-Form of Agreement
5/22
LawLINKS
Chapter 12Chapter 12
Is an e-mail signature acceptable? Be sure
to read the article Contracts by Computer
at
http://www.dci.com/news/1998/jul/23law.
htm
-
8/9/2019 Buslaw12-Form of Agreement
6/22
1212--1 & 21 & 2
1. All contracts must be in writing.
Topic Quiz
FALSE
Answer the following true/false questions:
There are six specific kinds that must be
in writing.
-
8/9/2019 Buslaw12-Form of Agreement
7/22
1212--1 & 21 & 2
2. The Statute of Frauds is the law that
states the different kinds of fraud.
Topic Quiz
FALSE
Answer the following true/false questions:
It proves or disproves oral
contracts.
-
8/9/2019 Buslaw12-Form of Agreement
8/22
1212--1 & 21 & 2
3. A promise to marry someone
may be oral.
Topic Quiz
TRUE
Answer the following true/false questions:
-
8/9/2019 Buslaw12-Form of Agreement
9/22
Special Rules for Written
Contracts
The Parol Evidence Rule
The Best Evidence Rule
The Equal Dignities Rule
1212--33
-
8/9/2019 Buslaw12-Form of Agreement
10/22
A Question of Ethics
In Example 12-12, Slaughters
supervisor orally told Slaughter that
he had become a full-time employeeand that his temporary six-month
contract would run for three years. At
the end of the original six-monthcontract, Slaughter was dismissed.
Slaughters dismissal was legal. Was
it ethical? Explain your response.
1212--11
-
8/9/2019 Buslaw12-Form of Agreement
11/22
1212--33
1. Evidence of oral statements made
before signing a written agreement isnever admissible in court to change or
to contradict the terms of a written
agreement.
Topic Quiz
FALSE
Answer the following true/false questions:
It is admissible.
-
8/9/2019 Buslaw12-Form of Agreement
12/22
1212--33
2. There are no exceptions to the parol
evidence rule.
Topic Quiz
FALSE
Answer the following true/false questions:
There are exceptions.
-
8/9/2019 Buslaw12-Form of Agreement
13/22
1212--33
3. The courts accept into evidence only the
original of a writing, not a copy.
Topic Quiz
TRUE
Answer the following true/false questions:
-
8/9/2019 Buslaw12-Form of Agreement
14/22
Formalities of Construction
SignaturesWitnesses and Acknowledgments
Seal
Recording
1212--44
-
8/9/2019 Buslaw12-Form of Agreement
15/22
LawLINKS
Chapter 12Chapter 12
Determine whether your state already
has or is considering digital or electronic
signature legislation by visiting
http://www.magnet.state.ma.us/itd/legal/
sigleg7.html
-
8/9/2019 Buslaw12-Form of Agreement
16/22
1212--44
1. Written agreements must be signed by
both parties.
Topic Quiz
FALSE
Answer the following true/false questions:
Should be signed by both.
-
8/9/2019 Buslaw12-Form of Agreement
17/22
1212--44
2. A facsimile signature will be
acceptable on a contract if the
contract states that facsimilesignatures are valid.
Topic Quiz
TRUE
Answer the following true/false questions:
-
8/9/2019 Buslaw12-Form of Agreement
18/22
1212--44
3. Witnesses are required for all written
contracts.
Topic Quiz
FALSE
Answer the following true/false questions:
For wills and sometimes deeds; others are
optional.
-
8/9/2019 Buslaw12-Form of Agreement
19/22
1212--11 Many contracts do not have to be in writing to
be enforceable.
The kinds of contracts that must be in written
form are found in the Statute of Frauds.
1212--22
SUMMARY
1212--33 The parol evidence rule does not allow the use
of oral evidence to change, delete, or add to
the terms of a written contract.
1212--44 Certain formalities are usually followed in the
formation of many written agreements.
-
8/9/2019 Buslaw12-Form of Agreement
20/22
Chapter 12Chapter 12Key Terms
acknowledgment equal dignities rule
administrator authenticate
equitable estoppel best evidence rule
condition precedent executor
guaranty of payment memorandum
parol evidence rule part performance
Statute of Frauds
Uniform Facsimile Signature of Public Officials Act
-
8/9/2019 Buslaw12-Form of Agreement
21/22
Investigating on the Internet
Chapter12Chapter12
Check the current status of Article 2B of the
Uniform Commercial Code by going to
http://www.law.upenn.edu/library/ulc/ucc2b/
2bstate.html
Write a summary of your findings.
-
8/9/2019 Buslaw12-Form of Agreement
22/22
Endof Presentation