1. Describe the contents of a writing that would be sufficient to satisfy the statute of frauds
under the common law.
The requirements to satisfy are the following. The first one is that the parties’ contracted
must be clearly indicated. The second one is the purpose of the agreement must be stated
clearly. There must also be consideration given by both parties. The terms that are of
significance must be clearly stated. The final requirement is the signature of party plaintiff
seeks to hold responsible under contract.
2 .List the kinds of contracts that require a writing under the statute of frauds.
There are five different contracts that require writing. These five different contracts include
the following: the first one is a contract whose terms make certain actions impossible to
perform within a one year, the second type of contract is a promise made in consideration
of marriage. Contracts’ that are related to an interest in land fall under the kind that require
a writing. Contracts where one party fails to make a payment fall under his category as
well, the final type of contract that requires writing is where the sale of goods total $500.
(Pg. # 243)
3 In 1995, Schaefer was in a car accident, and his vehicle was damaged. His insurance
company looked at his vehicle and gave him money to repair it. However, even with the
repairs, Schaefer’s vehicle’s overall value dropped almost $ 3,000 due to the accident.
Schaefer’s interpretation of the insurance company’s written policy was that the company
would return the vehicle to its original value before the accident. On the other hand, the
