Statute of Frauds

Question 1

What does the statute of frauds require?

Answer 1

That all transfers of real estate and property must be in writing.

Question 2

How many writings are required to satisfy the statute of frauds?

Answer 2

It can be completed in many writings, as long as the transfer agreement is on a written item and is signed by the party to be charged. It can also be on one item.

Question 3

What are the exceptions to the Statute of Frauds?

Answer 3

1) Part Performance

2) Estoppel

Question 4

Part Performance exception to the Statute of Frauds

Answer 4

Reliance on what the party thought was an agreement. Showing domain and control over the land in some action that they would not have done if they did not believe that there was an agreement. 
Can be shown in 3 main ways: 
1) Paying part of the purchase price 
2) Taking possession of property 
3) Making noticeable improvements

Question 5

Estoppel exception to the Statute of Frauds

Answer 5

When a party changes their position in anticipation of their agreement. This exception will be applied where an unconscionable injury would result from denying enforcement of the oral contract after one party had been induced by the other materially change his position in reliance on the contract. RELIANCE ON THE AGREEMENT MUST BE REASONABLY FORESEEABLE.