Statute of Frauds

The Statute of Frauds is a legal principle that requires certain types of contracts to be in writing and signed to be enforceable in court. This typically includes contracts related to the sale of real estate, contracts that cannot be completed within a year, or agreements involving significant amounts of money. The purpose is to prevent misunderstandings and fraud by ensuring there is clear, tangible evidence of the agreement. If a contract falls under this statute and isn't in writing, it may not hold up in a legal dispute.