Contracts--Statute of Frauds & Parol Evidence Rule. “Statute of Frauds” (S/F) What is it & how did it get its name? Some of the types of contracts that must be in writing
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Some of the types of contracts that must be in writing
Contract for the transfer of any interest in real estate (incl. a lease for more than one year; also includes things like mortgages, easements, transfers of fractional interests, mineral interest, and so on)
Contract that, according to its specific terms, can’t possibly be performed within one year from the time the contract was made.
Contract for the sale of goods for a price of $500 or more (UCC 2-201).
Contract for the lease of goods for $1,000 or more (e.g., rentals of equipment, vehicles, etc.) (cont. on next slide)