15. Which of the following is least likely to be illegal? A) A contract requirin

Question

15. Which of the following is least likely to be illegal? A) A contract requiring the commission of a tort. B) A contract to commit a crime C) A contract in violati on of a licensing statute that is intended to raise revenue D) An exculpatory clause that seeks to relieve one of the parties of liability for fraud 16. A and B entered into a completely integrated written contract. Before the written contract was completed, A made an oral statement to B regarding the terms of the contract. This statement was not contained in the written contract. Under the parol evidence rule, evidence of A's oral statement would be admissible if it were used to: A) Contradict a term of the written contract. B) Clarify an ambiguous term in the written contract. C) Prove an additional term that is not in the written contract, but is consi stent with it. D) Changes the terms of the written contract 17. In order to satisfy the Statute ofFrauds, the parties' writing must: A) Be signed by both parties B) Be notarized C) Be signed by the "party to be charged" D) Contain all the nec es sary contract terms in one document.

Explanation / Answer

1.Correct option is C)

A contract that has an agreement which if enforced will lead to commiting of an illegal act cannot be legal. A contract to commit an illegal act or violate a public policy becomes void , so contracts that require commision of a tort, crime or which is mentioning the possibility of fraud are void.

Contracts violating Licensing Statutes which are regulatory , where license is mandatory for the safety of public like in case of doctors, are void. However if the licensing statute is for raising revenue, a contract in violation of it is enforceable.

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