Download Chapter Eight. Statute of Frauds

Chapter Eight. Statute of Frauds
 After reading this chapter, you will be able to:
 Describe contracts that must be in writing to be enforceable
 Recognize samples of agreements that must be in writing to be
enforceable
 Understand issues raised by “cyber” contracts
Requirement of Writing
 Most contracts are not written, but some are not
enforceable without a writing.
Major Categories of Contracts
within the Statute of Frauds
 Use the mnemonic device “My Legs” to remember:
Anticipation of
Marriage
Cannot be performed
within one
Year
Land
Promised by an
executor to pay
Estate’s debts
Sales of
Goods over $500
Suretyship
Real estate contracts
Added by the UCC
Contracts that Must be Evidenced by a Written Instrument
 Promises in anticipation of marriage
 Contracts not performed within a year
 Contracts involving land (real property)
 Contracts for sale of goods for $500 or more
 Promises to answer for the debts of another
Collateral Promise
 Promise to guarantee the debt of another, made
without benefit to the party making the promise.
Click-Wrap Agreement
 An agreement used in connection with software
licenses
 Often found on the Internet as part of the
installation process of software packages;
 Usually requires user to manifest assent by clicking
an “ok” button on a dialog box or pop-up window