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Statute of frauds

   Also found in: Medical, Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
(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.
- Wharton.

See also: Fraud



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of Montana) offers explanations of both correct and incorrect answers in the "murky" areas of these laws, and covers such exam topics as the Uniform Commercial Code, the scope of Article 2, the Parol Evidence Rule, the Statute of Frauds and remedies for both buyers and sellers.
Section 4 of the venerable Statute of Frauds 1677 requires guarantees to be in writing if they are to be enforceable; there is no such requirement in the case of an indemnity, although of course written agreement is always best as a matter of practice and for proof.
not violative of the Statute of Frauds requiring a writing as the Listing broker is licensed in New York).
 
 
 
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