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statute
(redirected from Statute of frauds)

   Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.01 sec.
statute (stach´ūt),
n a law enacted and established by a legislative department of government.
statute of frauds,
n a requirement that, for legal validity, contracts for conveying real property or contracts for the performance of personal services requiring a year or more to perform must be in writing.
statute of limitations,
n a statute that sets a time limit within which legal action on certain causes of action must be brought.
statute, wrongful death,
n a statute that provides for the recovery of damages by a party other than the party who received the fatal injuries.


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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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