Statute of Frauds

Question 1

What is the statute of frauds

Answer 1

The statute of frauds is an exception to the general rule and must be raised by the party opposing enforcement (affirmative defense)

Simplifies the evidentiary process

Question 2

What classes of contracts require statute of frauds

Answer 2

MYLEGS

Marriage
Contract not to be performed within one Year
sale for interest in Land
Estoppel
Sale of Goods
Suretyship

Question 3

UCC 2-201

Answer 3

Writing required for sale of goods of $500 or more

Must be signed by the party against whom enforcement is sought

Between merchants: writing confirming the contract is sufficient and satisfied requirements unless written notice of objection is given within 10 days

Question 4

Exceptions to UCC statute of frauds

Answer 4

Specifically manufacturers goods already in production or about to be
Admission in pleadings or testimony that an agreement was reached
Goods already received/accepted or payment already made/accepted

Question 5

Complying with SOF restatement

Answer 5

Signature of party against whom enforcement is sought,
Reasonable identification of contract’s subject matter,
Sufficient indication that contract had been made by parties or offered by singer to other party, AND
Essential terms of the unperformed promises to be stated with reasonable certainty

Question 6

Complying with SOF UCC

Answer 6

Signature of party against whom enforcement is sought,
Some writing sufficient to indicate that contract for sale of goods has been made between parties, AND
Specification of quantity of goods sold.

Question 7

Are signatures required under SOf

Answer 7

No - any authentication which identifies the party - can be email, e-signature, docusign

Question 8

Damages under SOF

Answer 8

Restitution as primary recourse for thwarted plaintiff