Statute of Frauds

Question 1

Types of Contracts Within the Statute of Frauds

Answer 1

Marriage
Suretyship
One year
UCC
Real property contract

Question 2

One-Year Provision

Answer 2

Contracts that cannot be performed within one year because of the constraints of the terms of the agreement must be in writing.

Question 3

Sufficiency of the writing

(UCC)

Answer 3

When the price is at least $500, the memo of sale must:

1) Indicate that a contract has been made;
2) Identify the parties;
3) Contain a quantity term; and
4) Be signed by the party to be charged.

Question 4

Specially manufactured goods

(UCC exception SOF)

Answer 4

No writing is required if (i) the goods are to be specially manufactured for the buyer, (ii) the goods are not suitable for sale to others, and (iii) the seller has made “either a substantial beginning of their manufacture or commitments for their procurement.”