Why is this rule called the Statute of Frauds

under the Statute of Frauds, certain contracts must be in writing. Please see the list on page 484 of Chapter 16. For this discussion, please post a new thread addressing the following questions:

1. Why is this rule called the Statute of Frauds? Please explain.

2. List three types of contracts that must be in writing. Do you agree that these contracts should be in writing? Why or why not?

A contract is said to be “within” (covered by) the statute of frauds if the statute requires that sort of contract to be evidenced by a writing. In almost all states, the following types of contracts are within the statute of frauds:

1. Collateral contracts in which a person promises to perform the obligation of another person.

2. Contracts for the sale of an interest in real estate.

3. Bilateral contracts that cannot be performed within a year from the date of their formation.

4. Contracts for the sale of goods for a price of $500 or more.

5. Contracts in which an executor or administrator promises to be personally liable for the debt of an estate.

6. Contracts in which marriage is the consideration. Of this list, the first four sorts of contracts have the most significance today, and our discussion will focus primarily on them.