Statute of Frauds Flashcards
1
Q
Two phased analysis for Statute of Frauds:
A
1) Does the Statute of Frauds apply to this transaction?
2) Does this Contract fulfill the Statute of Frauds?
2
Q
What is the goal of the Statute of Frauds?
A
To prevent false assertions about a contract that was never really created.
3
Q
To what contracts does the Statute of Frauds apply?
A
1) Marriage
2) Suretyship (guaranteeing debts of another)
3) Contract that can’t be performed w/in one year by its terms
4) UCC - goods with a value of more than $500
5) Real Property.
