BU231 Chapter Notes - Chapter 9: Oral Contract, Miscarriage, Time-Sharing

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4 Mar 2015
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The effect of the statute of frauds is to make certain types of contracts unenforceable unless they are in writing. Types of contract affected by the statute of frauds: a promise to answer for the debt, default, or miscarriage of another: Promise of guarantee: a conditional promise to pay only if the debtor defaults: creditor must look to debtor first, if debtor defaults, creditor can claim payment. Promise of indemnity: a promise by a third party to be primarily liable to pay the debt from guarantor: enforceable without writing. Must be made in writing to be enforceable. Miscarriage: an injury caused by the tort of another person. Pay damages for loss caused by another person. Must be made in writing to be enforceable: an agreement made in consideration of marriages, a contract concerning an interest in land. Agreements to permit taking water from a well, leash any land, house or other building are within the statute.

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