Discuss the various contracts that must be in writing to be enforceable

What will be an ideal response?


The statute of frauds, which originated in England in 1677, requires certain contracts to be in writing. Originally, these contracts were required to be in writing because they were thought to be the most likely situations in which perjury would occur. Today, each state requires by statute that various contracts be written in order to be enforceable. Typically, those contracts include:
a. Contracts for the sale of an interest in land;
b. Contracts to pay the debts of another;
c. Contracts not performable in one year;
d. Contracts for the sale of goods of $500 or more; and
e. Certain nonbusiness contracts, including contracts made in consideration of marriage and contracts of an executor or administrator to answer for the debts of a deceased person.

Business

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What will be an ideal response?

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Business