What does the Statute of Frauds require?

The Statute of Frauds is a legal principle that requires certain types of contracts to be in writing in order to be enforceable in a court of law. This statute was established to prevent fraudulent claims and to ensure that there is clear evidence of the agreement. Typically, it applies to contracts involving significant transactions, such as the sale of real estate, contracts that cannot be performed within a year, and agreements related to marriage or suretyship.

By requiring that these specific contracts be documented in writing, the Statute of Frauds helps protect parties in contractual agreements by providing a tangible record of the terms and conditions agreed upon, thus reducing the potential for misunderstandings or disputes.

Other scenarios such as notarization, verbal contracts, or witnessing do not fulfill the primary purpose of the Statute of Frauds, which is specifically concerned with the written form of the contract itself for certain categories. Having a contract notarized or witnessed can provide additional legal assurance, but it is not a requirement imposed by the Statute of Frauds. Similarly, while some contracts can indeed be verbal, this principle restricts that possibility for specific kinds of agreements, necessitating a written format for their enforceability.