Statute of frauds
The statutory requirement that certain contracts be inwriting to be enforceable. | ||||
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Statute of frauds definition was found in categories: Language, Idioms & Slang(1) Encyclopedia(1)
Statute of frauds Definition from Language, Idioms & Slang Dictionaries & Glossaries
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statute of frauds
statute of frauds
(law), an english statute (1676), the principle of which is incorporated in the legislation of all the states of this country, by which writing with specific solemnities (varying in the several statutes) is required to give efficacy to certain dispositions of property...
see fraud
statute of frauds
(law), an english statute (1676), the principle of which is incorporated in the legislation of all the states of this country, by which writing with specific solemnities (varying in the several statutes) is required to give efficacy to certain dispositions of property...
see fraud
Statute of frauds Definition from Encyclopedia Dictionaries & Glossaries
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Statute of frauds
The statute of frauds refers to the requirement that certain kinds of contracts be made in writing and signed.
Traditionally, the statute of frauds requires a writing signed by the party against whom enforcement is sought in the following circumstances:
- Contracts in consideration of marriage.
- Contracts which cannot be performed within one year.
- Contracts for the transfer of an interest in land.
- Contracts by the executor of a will to pay a debt of the estate with their own money.
- Contracts for the sale of goods above a certain value.
- Contracts in which one party becomes a surety (acts as guarantor) for another party's debt or other obligation.
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