All of the following are true of the Statute of Frauds, EXCEPT:
A) the name is taken from the English law of 1677.
B) the name is a derivative of a law called "An Act for Prevention of Frauds and Perjuries."
C) it does not prohibit a person from legally entering into oral contracts.
D) it applies to executory and executed contracts.

Question

Quizplus · Accepted Answer

The Statute of Frauds applies only to executory contracts, which are agreements to do something in the future, such as a promise to sell goods or perform services. It does not apply to executed contracts, which are agreements that have already been fully performed, such as a completed sale of goods.

All of the Following Are True of the Statute of Frauds