Exception to the Statute of Frauds

The video discusses the statute of frauds, which requires certain contracts to be in writing to be enforceable. It explores exceptions to this rule, such as part performance in land sales, full or partial payment, specialty goods, admissions under oath, and merchant transactions under the Uniform Commercial Code. These exceptions allow contracts to be enforceable without a written agreement.

What is one exception to the requirement that a contract for the sale of land must be in writing?

• The buyer's verbal promise to pay

• The buyer's intention to purchase

• The seller's verbal agreement to sell

• The buyer taking possession and making improvements

In the context of specialty goods, what can substitute for the writing requirement?

• A handshake

• A verbal agreement

• Sufficient evidence of the order

• A witness testimony

What can make a contract enforceable even without a written agreement when dealing with goods?

• Partial payment and acceptance of the goods

• A third-party witness

• A verbal promise to pay later

• A written note of intent

How can a party's admission under oath affect the writing requirement for a contract?

• It can require additional witnesses

• It can delay the contract enforcement

• It can substitute for the writing requirement

• It can nullify the contract

In merchant transactions, what can imply acceptance of a contract without a written agreement?

• A verbal agreement

• Silence or failure to reject goods

• A third-party endorsement

• A handshake