Contract Law: Statute of Frauds

In order for certain contracts to be enforceable the contract must be in writing. The purpose of the statute is to prevent a party from relying on oral representations made while forming or negotiating the prosepective contract.

Statute of Frauds: Certain contracts in order to be enforceable must be in writing; For a conract to be enforcebale the contract must be in writing The contracts that generally fall within the statute of frauds are as follows:.

In consideration of marriage-NOT contracts to marry

Contracts that can not be performed within one year;

Surety contracts Between lender & surety But-main purpose rule

Transfer of interest in land (Not growing crops)

Estate debts-paid by administrator out of own pocket

Goods over $500 under the UCC But not if goods accepted, paid for, or white elephants;

Personal property over $5000 UCC-NOT goods Must Contain: Common law: parties, subject terms UCC-intent to contract quantity “Signed” by party to be charged Merchants must object to confirmation within 10 days Contract voidable-defense must be raised-not by court or 3rd party May be estopped from raising waiver of defense or promise to put in writing Can still get quasi-contract some courts MAY allow Reliance where no benefit conferred-Monarco “Tacking” ok-signature still required.

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