The Statute of Frauds: ________.
A)states that all contracts have to be in writing to be enforceable in the court of law
B)decrees oral contracts to be invalid and hence not upheld or enforceable by law
C)states that certain types of contracts have to be in writing to be enforceable
D)maintains that agreements can be oral while contracts have to be in the written format

Question

Quizplus · Accepted Answer

The Statute of Frauds, which is a law in many common law jurisdictions, including the United States, requires that certain types of contracts must be in writing to be enforceable in court. These include contracts for the sale of goods over a certain monetary value, contracts for the sale of real property, contracts that cannot be performed within one year, and contracts for the payment of debt. However, not all contracts have to be in writing, and some oral contracts can still be enforced if certain elements are present. Therefore, choices A, B, and D are incorrect.