BU231 Chapter Notes - Chapter 9: Oral Contract, Consumer Protection, Miscarriage
Document Summary
So the substance the terms of the contract may have a variety of physical forms or even no form at all, other than in the minds of the parties. Not all contracts require writing; very often oral contracts are legally enforceable. The meaning of writing has expanded to include electronic documents such as cd"s, pdf documents etc. The effect of the statute of frauds is to make certain types of contracts unenforceable unless they are in writing. The statute of frauds promotes more frauds than it prevents. The courts have tried to limit the application of the statute wherever possible. The types of contracts affected by the statute of frauds. 5 classes of contracts covered by the statute of frauds are: a promise to answer for the debt, default, or miscarriage of another: guarantor and indemnity. A person who makes a promise to indemnify a creditor makes herself primarily liable to pay the debt.
