REG Study Group Q4 2014 - Page 116

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  • November 12, 2014 at 4:46 am #630900
    Mamabear
    Member

    Right on the first two!

    Last one is quasi-contract

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    November 12, 2014 at 4:46 am #630901
    Tax lady
    Participant

    Ooooo gotcha!

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    November 12, 2014 at 4:46 am #630902
    Mamabear
    Member

    When is a contract required to be in writing?

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    November 12, 2014 at 4:47 am #630903
    Tax lady
    Participant

    For real estate/longer than one year to complete/over $500/for guarantors

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    November 12, 2014 at 4:49 am #630904
    Mamabear
    Member

    Yes maim!

    Becker uses MYLEGS to list when a contract is within the Statute of Frauds–if you like acronyms

    Marriage

    Year

    Land

    Executor's promise (to pay estate debt from personal funds)

    Goods $500 or more

    Suretyship ( promise to pay debt of another)

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    November 12, 2014 at 4:50 am #630905
    Tax lady
    Participant

    Good one!

    AUD - 80
    BEC - 75
    FAR - 85
    REG - 82

    REG 8/15/14 (73); 11/13/14 (82)-expired 🙁
    AUD 5/30/15 (80)
    BEC 11/28/15 (75)
    FAR 7/30/16

    Studying with CPAexcel and Ninja notes/MCQ's/Flashcards

    November 12, 2014 at 4:50 am #630906
    Mamabear
    Member

    3 elements necessary for an enforceable contract.

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    November 12, 2014 at 4:51 am #630907
    Tax lady
    Participant

    hmmmm I'm drawing a blank….

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    November 12, 2014 at 4:52 am #630908
    Mamabear
    Member

    Me too.

    Agreement (offer and acceptance)

    Consideration (something of legal value to exchange)

    Lack of defenses

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    November 12, 2014 at 4:52 am #630909
    Tax lady
    Participant

    Yes! Lovely.

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    REG 8/15/14 (73); 11/13/14 (82)-expired 🙁
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    Studying with CPAexcel and Ninja notes/MCQ's/Flashcards

    November 12, 2014 at 4:53 am #630910
    Mamabear
    Member

    What is the term for this definition?

    If the parties have entered into a fully integrated written contract, prior or contemporaneous oral statements and prior written statements cannot be admitted into evidence to vary the written terms of the contract.

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    November 12, 2014 at 4:54 am #630911
    Tax lady
    Participant

    parole evidence

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    November 12, 2014 at 4:54 am #630912
    Mamabear
    Member

    Booyah!

    CPA Exam - Finally DONE (November 2014)
    BEC (08/10/13) 80
    AUD (08/24/13) 65 (11/13/13) 85
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    REG (07/19/14) 69 (11/29/14) 87!!

    November 12, 2014 at 4:55 am #630913
    Tax lady
    Participant

    I sure hope my exam questions are like this! I may pass!

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    Studying with CPAexcel and Ninja notes/MCQ's/Flashcards

    November 12, 2014 at 4:56 am #630914
    Mamabear
    Member

    ________ is a clause in a contract that specifies what damages will be if there is a breach.

    CPA Exam - Finally DONE (November 2014)
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