Purpose of the Statute of Frauds

Question:What is the purpose of the statute of frauds?

Question:Why has the statute of frauds historically included the six types of contracts listed in the text?

Question:What is the effect of the statute of frauds?

Question:Is unenforceable the same as void?

Question:What is the difference between an unenforceable contract and a void contract?

Question:Is it still true today that the most valuable contracts must be in writing?

The statute of frauds: A plaintiff may not enforce any of the following agreements, unless the agreement, or some memorandum of it, is in writing and signed by the defendant.

The agreements that must be in writing are those:

For any interest inland

Thatcannot be performed within one year

To pay thedebt of another

Made by anexecutor of an estate

Madein consideration of marriage; and

For thesale of goods worth $500 or more.