Which of the following types of contracts falls under the Statute of Frauds? Contracts for the...
Which of the following types of contracts falls under the Statute of Frauds?
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Contracts for the sale of an interest in personal property.
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Contracts that can be performed within a year from the date of their formation.
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Contracts for the sale of goods.
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Contracts for the sale of goods for $500 or more.
Homework Answers
Option 4
Statute of Fraud is a legal entity that requires to be executed in writing and should cover the basic conditions and terms of the parties agreement.
Usually Contracts like transfer or sale of land, sale of goods over $500, related to marriage, those which cannot be fully completed within a year of signing, surety contracts would fall under the Statute of Frauds.
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