Statute of Frauds

Question 1

When is the SoF triggered?

Answer 1

MYLEGS:
Marriage
Year - Ks that can’t be performed w/i 1 year
Land - K to transfer, receive, or create interest in real restate (easements, leases of 1 year+, mortgages, etc.)
Estate Debts
Goods $500+
Suretyship - paying the debt of another

Question 2

What is the SoF?

Answer 2

Ks which require a writing to be enforced UNLESS S.W.A.P.:

Specially made goods
Written confirmation by merchant
Admission in court
Performance (full)

Question 3

How to satisfy SoF by writing?

Answer 3

A writing satisfies the SoF is it is:

1. signed by the party to be charged,
2. shows that a contract was formed, AND
3. contains all of the requisite terms of the deal

Question 4

What is the special SoF rule for real estate Ks?

Answer 4

Part performance can satisfy SoF if any 2 of the 3 are met:

1. buyer takes possession of the property,
2. buyer makes full or substantial payment, AND/OR
3. buyer makes substantial improvements to the land

Question 5

What is the special SoF rule for goods contracts?

Answer 5

Part performance satisfies the SoF but only for the quantity received and accepted.

Question 6

What is the special SoF rule for custom made goods?

Answer 6

SoF is satisfied for specially made goods when:

1. a seller makes a substantial beginning toward manufacture and
2. are not suitable for sale to others in ordinary course of business