Statute of Frauds

Question 1

Statute of Frauds

Types

Answer 1

MY LEGS

• Marriage
  
  • Prenup/Marriage as condition
• Year
  
  • longer than a year
• Land
  
  • Real Property
• Executorship
  
  • estate
• Goods
  
  • over $500 (UCC)
• Suretyship
  
  • guarantor (not co-signer) of debt

Question 2

Statute of Frauds

Requirements

Answer 2

Signed Memo
▪ ID of Parties
▪ Nature of Exchange
▪ Obligations
▪ Conclusion

Question 3

Statute of Frauds

Goods Extra Requirements

Answer 3

If Goods (over $500)

• State Quantity of Goods

If Both Merchants [SKOR]
• Sufficient against sender (must be suit against sender)
• Know its contents (receiving party)
• Objection w/i 10 days
• Reasonable time; Send memo in

Question 4

Statute of Frauds

Exceptions

(*NOT FOR GOODS)

Answer 4

*Not for goods [MY LE S]

▪ Part Performance (often land)
▪ Justifiable Reliance (prom. Estop.)
▪ Judicial Admission

Question 5

Statute of Frauds

Goods Exceptions

Answer 5

*Goods only

Acronym: PAGE
▪ Part Performance (conduct or lack of protest in performing)
▪ Judicial Admission
▪ Specially Manufactured Goods
▪ Promissory Estoppel (Justifiable Reliance)