statute of frauds

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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. In the United States, although state laws vary, most require written agreements in four types of contracts: contracts to assume the obligation of another; contracts that cannot be performed within one year; contracts for the sale of land; and contracts for the sale of goods.

Statute of Frauds:

see Frauds, Statute ofFrauds, 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.
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statute of frauds

A rule that certain kinds of contracts are unenforceable unless signed and in writing or unless there is a written memorandum of their terms signed by the party to be charged. In most states contracts for the sale of real property or for leases of over a specified duration must be in writing to be enforceable.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.