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 of contracts that fall under the statute of frauds. This would include contracts involving the sale of land, contracts that cannot be performed within one year, surety agreements, marriage contracts, contracts involving the sale of goods over $500, and executor arrangements.
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