BLBU 2234 Chapter Notes - Chapter 15: Oral Contract, Uniform Electronic Transactions Act, Estoppel
2 Mar 2019
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Document Summary
Highly desirable that significant contracts are written. Honors document by not allowing parties to introduce any evidence in lawsuit that would alter/modify/vary any terms of written contract. Requires certain designated types of contracts be evidenced by writing to be enforced. Does not prevent performance of oral contracts if parties are willing to perform. Given contract subject to statute of frauds within statute: must comply with requirements. Enforceability of contracts entered into through electronic means (internet/email) Uniform electronic transactions act (ueta: electronic contracts encouraging widespread use/develops uniform legal framework for implication. Applies to contractual promise by surety (promisor) to creditor (promisee) to perform duties/obligations of third person (principal debtor) if principal debtor doesn"t perform. Collateral in that promisor is not primarily liable. Original promise: promisor makes by undertaking to become primarily liable then statute of frauds does not apply. Main purpose doctrine: object/purpose of promisor is to obtain economic benefit for self = promise not within statue.
