Asked by Emilio Paderanga on May 09, 2024

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What types of contracts does the statute of frauds require to be in writing?

Statute of Frauds

A legal principle requiring certain types of contracts to be in writing in order to be enforceable.

Contracts

Legally binding agreements between two or more parties that establish obligations which are enforceable by law.

  • Discern the types of contracts that require written evidence under the statute of frauds.
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Linda ArriolaMay 11, 2024
Final Answer :
Only specific types of contracts fall within the statute of frauds and thus are required to be evidenced in writing.They are: a)contracts whose terms prevent possible performance within one year; b)promises made in consideration of marriage; c)contracts for one party to pay the debt of another if the initial party fails to pay; and d)contracts related to an interest in land.Although required to be in writing under the Uniform Commercial Code (UCC)and not the statute of frauds,a related fifth category is contracts for the sale of goods totaling more than $500.