What Types of Contracts Does the Statute of Frauds Require to Be in Writing

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• January 4, 2022

When it comes to legally binding agreements, verbal agreements can often be insufficient. This is where the Statute of Frauds comes in.

The Statute of Frauds is a law that requires certain types of contracts to be in writing to be legally enforceable. Let’s take a look at what types of contracts fall under this law.

1. Contracts involving the sale of goods over $500

Any contract for the sale of goods worth over $500 must be in writing to be enforceable under the Statute of Frauds. This includes contracts for the sale of physical goods like furniture, electronics, or cars.

2. Contracts involving the sale of land

Contracts involving the sale of land must also be in writing. This includes any agreement to transfer an interest in real estate, such as a house, land, or building.

3. Contracts that cannot be performed within one year

Any contract that cannot be performed within a year of its creation must also be in writing. For example, if you were to sign a contract to work for a company for five years, that contract would need to be in writing to be legally enforceable.

4. Contracts for marriage

Believe it or not, even marriage contracts fall under the Statute of Frauds. Any agreement related to marriage, such as a prenuptial agreement, must be in writing to be enforceable.

5. Contracts made on behalf of another person

Contracts made on behalf of another person, such as a power of attorney or a contract signed by a legal representative, must also be in writing to be legally binding.

Overall, the Statute of Frauds exists to protect parties from potential misunderstandings and disputes. If you’re entering into a contract, it’s important to make sure it’s in writing if it falls under the Statute of Frauds. This will ensure that all parties are on the same page and that the agreement is legally enforceable.