The Statute of Frauds

The Statute of Frauds is a legal principle that requires certain types of contracts to be written and signed to be enforceable in court. It was created to prevent fraud and misunderstandings in important agreements. Typically, this includes contracts for the sale of real estate, agreements that can’t be completed within a year, and contracts involving significant amounts of money. By requiring a written document, the Statute of Frauds helps protect all parties by ensuring there is clear evidence of the agreement's terms and the parties' intentions.