Chapter 15 - 0Statute of Frauds writing requirement 1....

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0Statute of Frauds – writing requirement 1. Origins of the statue of frauds a. 1677 England passed the law “an act for prevention of frauds and abuses” b. Certain types of contracts must be in writing and signed by the party against whom enforcement is sought to be enforceable c. Today, almost every state has a Statute of Frauds 2. Contracts that fall within the statue of frauds a. To be enforceable, the following types of contracts must be in writing and signed i. Contracts involving interest in land ii. Contracts involving “one-year rule” iii. Collateral or secondary contract iv. Promise made in consideration of marriage v. Contracts for the sale of goods priced at $500 or more 3. Contracts involving interests in land a. Land includes all physical objects that are permanently attached to the soil: buildings, fences, trees, and the soil itself. b. All contracts for the transfer of other interest in land: mortgages and leases 4. The one-year rule a. A contract that cannot, by its own terms, be performed within one year from the date
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This note was uploaded on 12/02/2010 for the course GBA 362 taught by Professor Roberson during the Spring '10 term at Sam Houston State University.

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Chapter 15 - 0Statute of Frauds writing requirement 1....

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