Chapter 16 Statute of Frauds writing is interpreted broadly Five contracts that must be in writing not verbal o Real estate o Cannot possibly be performed in one year o Collateral secondary guarantor contracts o Marriage as consideration prenups o UCC sale of goods over 500 Exceptions to statue of frauds o Sometimes oral contracts are enforceable even though they are supposed to be in writing Partial Performance Promissory Estoppel Admission No writing No problem o Oral contract partial performance can equal exception to writing requirement o Example Stillwater Bicycle Store Commercial lease agreement o Also promissory estoppel and admission Chapter 17 Assignment Delegation Third Party Assignment Assignor assigning Assignee or rights assign your rights to someone else Business transactions M A example Contracts can require consent for assignment Can t assign personal services w o consent o Piano teaching example Delegation Delegator delagatee of obligations Contracts can require consent for delegation Mortgage example assignment and delegation Can t delegate personal obligations w o consent o Same piano teaching example Third Parties Privity or contract party to the contract Third party not a party to the contract Third Party Beneficiary third party that can sue to enforce a contract Business contracts often exclude third party beneficiaries Condominium Association Condo owners agree to abide by certain rules including keeping appliances in order Can one condo owner sue another for breach of contract Court yes third party beneficiary rights
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