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Statute of Frauds |
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Statute of Frauds: see Frauds, Statute of Frauds, Statute of, basis of most modern laws requiring that certain promises must be in writing in order to be enforceable; it was passed by the English Parliament in 1677. ..... Click the link for more information. . |
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Specific performance cannot be obtained on oral contracts, not only because of the bar of the statute of frauds (the rule that requires real estate contracts to be memorialized in writing), but because the courts will not order specific performance if an agreement is uncertain or indefinite and does make clear and unambiguous the precise act to be done. New York's Statute of Frauds requires a signed writing for many commercial transactions, but specifically exempts licensed real estate brokers from its requirements. Claims by Union based on alleged oral representations by Ernst were barred by the statute of frauds, which requires that a representation concerning the credit of a third person be in writing to be admissible as evidence. |
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Statute of Frauds
