Chapter 18 - Chapter 18 Contracts in Writing 1 Statute of Frauds a eases contractual negotiations by requiring sufficiently reliable evidence to

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 18: Contracts in Writing 1. Statute of Frauds a. eases contractual negotiations by requiring sufficiently reliable evidence to prove the existence and specific terms of a contract b. prevents unreliable oral evidence from interfering with a contractual relationship c. prevents parties from entering into contracts with which they do not agree 2. Types of Contracts a. Contracts with terms preventing performance in 1 year a.i. Begins the day after the contract is scheduled a.ii. If a contracts can possibly be performed within a year, even if such performance is highly unlikely, then the contract does not need a writing to be enforceable. b. Promises made in consideration of marriage b.i. Prenuptial agreement: an agreement two parties enter into before marriage that clearly states the ownership rights each party enjoys in the other party’s property b.ii. Contracts in which one party promises something in exchange for another’s promise to marry must have a writing to be enforceable,
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/27/2012 for the course BLS 442 taught by Professor Staff during the Spring '12 term at Miami University.

Ask a homework question - tutors are online