UGBA 175 Chapter Notes - Chapter 15: Parol Evidence Rule, Estoppel, Uniform Electronic Transactions Act
16 Oct 2016
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Require that certain designated types of contracts be evidenced by a writing. Every state uses a statute of frauds patterned upon the original english statute. Purpose to prevent perjured testimony from creating fraud in the proof of certain oral contracts. Does not prevent the performance of oral contracts if the parties are willing to perform. Only related to the proof or evidence of the contract. *** various provisions of the statute of frauds apply independently (a contract for sale of land can be contract in consideration for marriage, contract not to be performed in one year etc. ) *** most states require that other contracts be evidenced by writing as well & ucc requires that contracts creating certain types of security interests and sale of other personal property be in writing. Electronic signatures in global and national commerce (e-sign: makes electronic records and signatures valid and enforceable across. Modification or rescission of contracts within the statute of.
