Statute of Frauds

Statute of Frauds
A legal concept that requires certain types of contracts to be executed in writing. The precise form of the Statute of Frauds varies between jurisdictions, but generally requires a writing for the following types of contracts:

(1) Contracts for the sale of land;
(2) Contracts for the sale of goods above a certain dollar amount;
(3) Contracts that cannot be completed in less than one year; and
(4) Contracts where one party is to pay the debt of another party.

In a breach of contract case where the statute of frauds applies, the defendant may raise it as a defense. In this case, the burden of proof is on the plaintiff to establish that a valid contract was in existence.

The statute of frauds has its roots in an act of the English Parliament passed in 1677. The act was meant to help prevent some of the misunderstandings and fraudulent activity that can occur with oral contracts. Therefore, the parliament decided to require a written contract for important transactions where a large amount of money was often at stake. The statute of frauds was adopted by the United States primarily as a common law concept, though it has since been formalized by statutes in certain jurisdictions.


Investment dictionary. . 2012.

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Look at other dictionaries:

  • statute of frauds — 1 often cap S&F a: a state law modeled on the English Statute of Frauds or dealing with the enforcement and requirements of agreements in particular circumstances see also statute of frauds in the important laws section compare main purpose rule; …   Law dictionary

  • 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 defendant in the following circumstances: * Contracts in… …   Wikipedia

  • statute of frauds — This is the common designation of a very celebrated English statute (29 Car. II, c. 3), passed in 1677, which has been adopted, in a more or less modified form, in nearly all of the United States. Its chief characteristic is the provision that no …   Black's law dictionary

  • statute of frauds — This is the common designation of a very celebrated English statute (29 Car. II, c. 3), passed in 1677, which has been adopted, in a more or less modified form, in nearly all of the United States. Its chief characteristic is the provision that no …   Black's law dictionary

  • Statute of frauds — Fraud Fraud (fr[add]d), n. [F. fraude, L. fraus, fraudis; prob. akin to Skr. dh[=u]rv to injure, dhv[.r] to cause to fall, and E. dull.] 1. Deception deliberately practiced with a view to gaining an unlawful or unfair advantage; artifice by which …   The Collaborative International Dictionary of English

  • statute of frauds — A statute which requires certain classes of contracts to be in writing. Sometimes called a statute for the prevention of frauds and perjuries. 49 Am J1st Stat of F § 1. A term sometimes applied in England to statutes affording relief against… …   Ballentine's law dictionary

  • statute of frauds — noun A statute that bars enforcement of an oral contract …   Wiktionary

  • statute of frauds — a statute designed to prevent fraudulent practices by requiring that various contracts and causes of action be evidenced by a writing signed by the party to be charged and varying in application to specific contracts according to British and… …   Useful english dictionary

  • statute — stat·ute / sta chüt/ n [Latin statutum law, regulation, from neuter of statutus, past participle of statuere to set up, station, from status position, state] 1: a law enacted by the legislative branch of a government see also code, statutory law …   Law dictionary

  • frauds, statute of — This is the common designation of a very celebrated English statute (29 Car. II, c. 3), passed in 1677, which has been adopted, in a more or less modified form, in nearly all of the United States. Its chief characteristic is the provision that no …   Black's law dictionary

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