Statute of Frauds Flashcards
1
Q
What does the *Statue of Frauds require**?
A
A writing that is
1) Signed by the party to be charged
2) Contains all essential elements of a deal
2
Q
What contracts are subject to the SOF?
A
1) Marriage
2) Suretyship
3) Cannot be performed within one year
4) Land sale contract
5) UCC contracts over $500 dollars
3
Q
How does performance affect SOF contracts?
A
Full Performance by one party means that a SOF contract cannot be voided for failure to meet the SOF.
Partial Performance allows a party to void a SOF contract; but the other party can still recover restitution.
