Home > Glossary

Statute Of Frauds

Statute of Frauds

Definition

A legal rule that requires certain kinds of contracts to be in writing and signed by the parties bound by the contract. The purpose is to prevent fraud and other injury. Examples of contracts to which the statute of fraud applies include contracts for the sale or transfer of real estate, contracts that cannot be performed within a year, and contracts made by executors and administrators.

Related Products

Navigation

Social Media

User ID: Subscriber Status:Free