Statute of Frauds

Question 1

Statute of Frauds

Answer 1

Contracts that fall within the Statute of Frauds are unenforceable unless they are evidenced by a writing containing the essential elements of the deal and signed by the party to be charged.

Question 2

SoF: Contracts Covered

Answer 2

• Marriage (prenup, not proposal)
• Suretyship (co-signer)
• One-Year (impossible to perform within)
• UCC-Goods >$500
• Real Estate (contract for sale, not deed)

Question 3

SoF: Exception: Marriage

Answer 3

Part-performance or action taken in reliance on contract (other than marriage).

Question 4

SoF: Exception: Suretyship

Answer 4

• Indemnity contracts
• Main-Purpose Exception (benefit to guarantor)

Question 5

SoF: Exception: Real Estate

Answer 5

• Any interest in real estate
• Not building/lease
• Part performance if (2 of 3)
  
  • Payment (all or part)
  • Possession
  • Substantial Improvement

Question 6

SoF: Sale of Goods >$500

Answer 6

Writing must:

• Indicate contract made
• Identify parties
• Quantity
• Signed by party to be charged

Exceptions:

• Specially manufactured goods
• Part payment
• Receipt + acceptance
• Judicial Admission (deposition, testimony)
• Failure to respond to merchant-merchant memorandum

Modifications: Assess deal as modified.