Question

Seller and Buyer of three apartment buildings sign a memorandum on a paper napkin during lunch. The Seller argues that the agreement is not enforceable. The rule that requires a written memorandum to enforce certain contracts is known as a. The Statute of Frauds c. Rule against oral agreements. b. The Statute of Writings d. None of the above 19) Which of the following is not an element of fraud. a. Calculation error c. scienter b. Justifiable reliance d. Damages

Answer 1

Answer: 1. a. The Statute of Frauds

19. a. Calculation error

Explanation:

1. The Statute of Frauds

This is a common law concept that requires that certain types of transactions and/contracts are to be immortalised in writing.

Some of the contracts involved include the sale of Land ( which this scenario falls under) and contracts that will last a year and beyond.

19. Fraud is the act of misrepresenting facts to deceive others intentionally and make more often than not make financial gains from it.

The key thing to remember is that this done INTENTIONALLY. A Calculation error is just that, an Error. So it is not intentional which means that it is not an element of fraud.