BSLW1021 Chapter 17: Chapter Seventeen
Document Summary
Chapter seventeen: writing, electronic forms, and interpretation of contracts. Validity of oral contracts: oral contracts are enforceable if writing is not needed, can be legally enforceable, statute of frauds: contracts that must be expressed in writing. Agreement that cannot be performed within one year after the contract is made. Starts the day the contract is signed not performance begins. If time not specified then see how long it would reasonably take to perform it. Agreement to sell or a sale of interest in land must be in writing. Promise to answer for the debt or default of another. When promise is made to benefit the promisor then the statute of frauds is not applicable. Promise by the executor or administrator of a decedent"s estate to pay a claim against the estate from personal funds. Prenuptial agreements must also be in writing. Sale of goods priced at or more. If essential information is missing then it is not sufficient.
