Statute of Frauds

Question 1

Statute of Frauds

Answer 1

The SoF requires a written agreement or other writing(s) which, proves the existence of the contract and is signed by the party against whom enforcement is sought.

SoF applies to Contracts of:

• Marriage (not the actual proposal of marriage, but a promise to furnish/perform something if the proposal is accepted)
• Performance will occur further than one year from the date of execution
• Land deals
• Executor-Administrator Duties (manage a trust)
• Goods valued at $500 or more
• Suretyship (acting on behalf of someone)

Satisfying the SoF creates an enforceable contract.

Question 2

What Types of Ks are Required to be in Writing?

Answer 2

MYLEGS

M - Marriage
Y - Year
L - Land
E - Executor
G - Goods (***$500 OR MORE***)
S - Suretyship

Question 3

Requirements of the Writings When Under the SoF

Answer 3

1. Be sufficient to prove existence of a K (can be a combination of writings)
2. The material terms of the unperformed promise(s) must be reasonably deduced from those writings
3. Be signed in some manner (does not have to be actual signature) by the party (or his agent) against whom enforcement is sought

IF IN THE UCC: (additional element)
4. Includes quantity

Question 4

Writing Rule

Answer 4

SoF is satisfied if the writings were signed by party against whom enforcement is sought with:

• intent is to authenticate the information contained; and
• such information does evidence the terms of the contract