Statute of Frauds

Definition

A legal doctrine requiring certain types of contracts (land sales, marriage agreements, etc.) to be in writing to be enforceable, because apparently your word is worth nothing without ink.

Example Usage

The oral agreement to sell the property wasn't enforceable under the statute of frauds, leaving the disappointed buyer with only memories and regrets.

Origin

English law concept from the Statute of Frauds of 1677

Fun Fact

The statute of frauds still catches people off guard; many believe they have a binding contract when they've only made an oral agreement

Source: Contract law terminology

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