& 18 Questions And 100% Correct
Answers 2025-2026 Updated.
CHAPTER 15: Statute of Frauds - Answer Chapter 15 deals with the Statute of Frauds (which
is not the same kind of fraud we talked about in chapter 11!).
- This chapter covers SIX contract types that fall under the Statute of Frauds and that MUST be
written in order to be enforceable.
- This means that, instead of having the FOUR typical requirements for a contract to be
enforceable, these have FIVE!
- Though written, the style/format of this writing can be SUPER simple and informal. Just needs
to be in writing!
What is the 1st kind of contract that MUST be written in order to be enforceable?
Describe it. - Answer --> SURETY CONTRACTS!
- Suretyship contracts are relevant when one has gotten a loan from the bank.
- SURETY says that there MUST BE a person on the side who promises to pay the debt of the
borrower should he/she be unable to pay.
- With suretyship, the "co-signer" is OBLIGATED to pay the principal amount of which the
borrower borrowed should he/she default. This person is called the "GUARANTOR."
- Overall, these kinds of contracts MUST be written -- they cannot simply be verbal agreements.
What is the 2nd kind of contract that MUST be written in order to be enforceable?
Describe it. - Answer --> The 2nd kind of contract that MUST be written in order to be
enforceable is one that involves representation for someone who's passed away.
- "Estate representative," "Executor," "Administrator"
- ^ This person is referring to the person who must collect all of the dead person's estate and
then distribute what remains to the rightful heirs.
,Describe it. - Answer - The 3rd kind of contract that MUST be written in order to be
enforceable is any kind of contract that deals with REAL ESTATE -- LAND.
--> These HAVE to be in writing in order to be enforceable.
What is the 4th kind of contract that MUST be in writing in order to be enforceable?
Describe it. - Answer --> The 4th kind of contract that MUST be written in order to be
enforceable is any that involves a PRENUPTIAL AGREEMENT.
- This includes issues like: how earnings will be allocated, how estate will be divided should they
divorce, etc.
- In LA, the "common property" theory prevails -- which enforces a 50/50 split/divide in
marriages.
What is the 5th kind of agreement which MUST be written in order to be enforceable?
Describe it. - Answer --> The 5th kind of contract that MUST be written in order to be
enforceable is a contract which involves a performance which CANNOT be completely
performed in one year.
- If the performance/promise cannot be completely done in ONE year, then it MUST be in
writing to be enforceable.
- EX: Say there is an employment contract which expires in 6 months. --> Well, in this case, no
writing is necessary for it to be enforceable b/c performance can be completed in under a year.
- EX: Say that there is an employment contract which expires in 2 years. --> Well, obviously, this
contract cannot be performed fully in 1 year, SO, it NEEDS to be in writing in order to be
enforceable.
What is the 6th kind of agreement that MUST be in writing in order to be enforceable?
Describe it. - Answer --> The 6th kind of contract which MUST be written in order to be
enforceable is: any contract that deals with sales of goods with a value of at least $500.
*CHAPTER 15 OVERVIEW! - Answer --> Chapter 15 deals with contracts in writing -- contract
that NEED to be in writing in order to be enforceable.
- When it comes to agreements, there are 4 requirements necessary for a promise to rise to a
, - The Statute of Frauds says that a contract is enforceable ONLY if it is in writing.
- If a contract happens to fall OUTSIDE of the Statute of Frauds, then -- no writing is necessary in
order to be enforceable. A simple verbal agreement will do :)
--> So now - say that a contract has been determined to fall within the Statute of Frauds and is
required to be in writing in order to be enforceable. Great!
- But what does that look like? What are the requirements for a contract that has to be written?
& what happens then if you don't comply? What happens if you have it in writing, but then the
writing isn't sufficient? - Answer - Hm. This is what Chapter 15 talks all about!
What is the rule for those contracts within the Statute of Frauds? - Answer --> The RULE for
those contracts within the Statute of Frauds says: Contracts within the SOF *must* be
evidenced by writing to be enforceable.
How/when did the SOF originate? - Answer --> The SOF originaited in the late 1600s (17th
century) from the common law in England.
- At this time, England was having issues. & a rule in the country was that parties could not
testify on their own behalf.
- So, to testify, they could only bring in 3rd parties. --> Well, often these 3rd parties were bribed
and perjury would occur.
- & SO, to SOLVE this issue, in 1677, SOF arose & then eventually made its way to America.
*Say the contract is determined to fall within the SOF. Are electronic records sufficient to qualify
as "writing"? - Answer --> Electronic Records: when it comes to electronic records &
signatures, full effect is given!
- These e-signatures first came into play in 2000.
- & FULL, legal effect is awarded to these digital signatures for most contracts.
(there are exceptions, such as with wills & testaments, however, for most contracts -- digital
signatures are accepted.)
--> Describe the 1st contract falling under the SOF: Surety Provision. - Answer (1) Suretyship