SCMA 323 Lecture 14: Chapter 14
3 Mar 2017
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Chapter 14: statute of frauds and equitable exceptions. Statute of frauds for common contracts: requires certain types of contracts to be in writing. Contracts that by their own terms cannot possibly be performed within one year. Collateral contracts in which a person promises to answer for the debt or duty of another. Contracts for the sale of goods for or more. Contracts for the lease of goofs with payments of or more. Agents" contracts where the underlying contract must be in writing. Contracts to pay debts barred by the statute of limitations or discharged in bankruptcy. Contracts to pay compensation for serviced rendered in negotiating the purchase of a business. Contracts involving in real property: real property: the land itself, as well as buildings, trees, soil, minerals, timber. Plants, crops, fixtures and other things permanently affixed to the land or buildings: other contracts that transfer an ownership interest in land must be in writing under the.
