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acknowledgment

The official recognition by a notary public that another's signature was made by that party's free will. The acknowledgment is accomplished when the notary has signed the document and added the official seal to it.

Uniform Facsimile Signatures of Public Officials Act

A law that allows use of facsimile signatures of public officials when certain requirements are followed.

Statute of Frauds

A law requiring certain contracts to be in writing to be enforceable.

primary objective test

A rule that states a writing is not needed for enforcement if the promise to pay another party's debt is made to obtain a gain for the guarantor.

standard construction rule

A theory of legal interpretation under which the court will determine the principal objective of the parties in the making of the contract.

prenuptial agreement

An agreement between two people who are planning marriage and who agree to change the property rights they possess by law in a marriage.

part performance

(or equitable estoppel) An exception to the rule that contracts for the sale of land must be in writing. It applies when a person relies on an owner's oral promise to sell real estate and then makes improvements on the property or changes his or her position in an important way.

parol evidence rule

The rule that states that evidence of oral statements made before signing a written agreement is usually not admissible in court to change or to contradict the terms of a written agreement.

obligor

In contract law, the party who is obligated to deliver on a promise or to undertake some act.

obligee

In contract law, the party to whom another party owes an obligation.

memorandum

A written agreement containing the terms of an agreement, an identification of the subject matter of the agreement, the consideration promised, the names and identities of the parties to the agreement, and the signature of the party charged to the agreement.

main purpose test

If the promise to pay another party's debt is actually made to obtain a gain for the guarantor, there is no need for a writing to enforce the promise.

leading objective test

If the promise to pay another party's debt is actually made to obtain a gain for the guarantor, there is no need for a writing to enforce the promise.

guaranty of payment

A promise to pay another's bills or to settle wrongful acts if that party does not settle them personally.

guaranty contract

A promise made by one party to pay another person's debts, if that person fails to pay the debt, falls within the statute and must be in writing to be enforceable.

guarantor

The promisor.

equitable estoppel

An exception to the rule that contracts for the sale of land must be in writing. It applies when a person relies on an owner's oral promise to sell real estate and then makes improvements on the property or changes his or her position in an important way.

equal dignities rule

The legal rule that provides that when a party appoints an agent to negotiate an agreement that must be in writing, the appointment of the agent must also be in writing. 1. Modifications 2.Certain Agencies Contracts 3. Assignments 4. Mutual Resistions

digital signature

An encoded message that appears at the end of a contract created online.

antenuptial agreement

Involves two people who are planning marriage and who agree to change the property rights they possess by law in a marriage. Such promises are enforceable only if they are in writing and agreed upon prior to the marriage.

best evidence rule

The legal rule that holds that the courts generally accept into evidence only the original of a writing, not a copy.

certification authority (CA)

It is the job of the CA to provide businesses with digital signatures and to make certain that those signatures are kept current.

consignor

One who entrusts goods under a consignment contract to a consignee for the purpose of selling them.

condition precedent

In contract law, an act or promise that must take place or be fulfilled before the other party is obligated to perform his or her part of the agreement.

collateral contract

A promise made by one party to pay another person's debts, if that person fails to pay the debt, falls within the statute and must be in writing to be enforceable.

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