Are executor arrangements required to be in writing?
Below is an example of an executor arrangement, and why it must be in writing to be valid:
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What is the statute of frauds?
The statute of frauds stipulates that certain kinds of contracts must be in writing to be enforceable. Under the statute of frauds, the contract must be memorialized in writing, it must be signed by the party to be charged, and there must be sufficient evidence that the contract exists. There are a number of types […]
Are contracts involving suretyship required to be in writing?
Yes. Surety contracts fall under the statute of frauds and must be in writing. Surety arrangements are when one party agrees to pay off the debt of another. The surety promise will be made with the original credit who has agreed to loan the money to the original debtor. Below is an example of surety […]
Do contracts for the sale of goods over $500 have to be in writing?
Yes. If the contract involves the sale of goods for $500 or more, then the contract must be in writing to be enforceable. Under the statute of frauds, a contract that involves the sale of goods will be required to be made in writing in order to be enforceable if the price of those goods […]