The "Statute of Frauds" is a common-law doctrine extended in all states either judicially or by statute. At common-law, the statute included the following acronym of contracts MYLEGS, M - marriage, Y - one year, L - land, E - executor (or estate), G - goods over $500, and S - surety. The Statute of Frauds is an incredibly important part of any real estate practice. Do you think that based on your understanding of the statute of frauds that this rule is fair when applied in the real estate context? Why do these contracts require writing whereas many others can be oral? Why are there so few exceptions to the writing requirement