Statue Of Frauds

Question 1

What are the 6 elements that are included in the statue of frauds

Answer 1

Tip: If it says oral contract then think statute of frauds

Marriage - prenuptial, postnuptial, antenuptial

Year (over a year)

Land - trees, house

Executive involvement - need to know if executor is not cheating me

Goods over $500 must be in writing

Surety (guarantee) - cosigners

Question 2

What is the statue of frauds?

Answer 2

Contracts that need to be in writing

Question 3

What are the exceptions towards statue of frauds?

Answer 3

Admitting will override the statute of frauds

Partial performance

Promissory Estoppel- relying on a promise that was never done. Benefit and detriment is only on one side. One party forming a contract

Detrimental reliance: Substitute for consideration, party relies on the actions causing a worse position of the other parties part

Recourse under U.C.C(unique): Whenever something is unique you can also sue
ex) when stuff is unique like batmobile