My Life and Statute of Frauds

My Life and code of Frauds In 1677, the English Parliament passed the Statute of Frauds. It is a state decree under which certain types of contracts must be in writing to be enforceable. The primary purpose of the Statute of Frauds is to ensure that there is reliable licence of the contracts and terms, and it is to prevent the possibility of a n wizxistent agreement between deuce parties being proved by perjury or Fraud. There atomic number 18 5 categories to which the contracts must to fall within the Statute of Frauds, which are 1. Contracts involving interests in land The polity applies to any contract for an interest in legitimate estate. . Contracts that cannot by their term be performed within one year The statute applies only to contracts that are objectively impossible to perform within one year from the contracts formation. 3. Collateral presages The statute applies only to establish contracts made between the guarantor and the creditor whose terms get up the gua rantor secondarily liable. 4. Promises made in consideration of marriage- The Statute applies to a unilateral promise to make a monetary payment or to give berth in consideration of marriage. 5.Contracts for the sale of goods priced at $500 or more. As we have seen, having a written contract helps many people to restrict the risk from misleading whenever they enter into the contracts. For example, there was a scenario case that had happened to me, and it helps me to accede bug out the important role of the Statute of Frauds to my life. I still recollect in October last year, when I was surfing the craigslist, I found an ads say that a room for shared with a cheap price, but the owner, Jason, utter that whoever rent his place had to pay money ahead of time.I then called him and rented place. active five months after the day of contract formation, he asked to move out because he wanted to sell his house. As a result, I odd the place without getting back my money. That was pis s me off because I couldnt enforce the contract, and there arent any recipes to prove that I had stipendiary to him. Now, I understand that a written contract is really important. Therefore, whenever I make a deal with other people, if its possible, I would make a written contract. It is a brilliant choice because it protects me from fraud in oral contracts