Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Our Q&A platform offers a seamless experience for finding reliable answers from experts in various disciplines. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Does the Statute of Frauds, a legal principle from the 1600s, still make sense in today's commercial world

Sagot :

anthougo

Answer:

Yes.  The Statute of Frauds still makes sense in today's commercial world.

Explanation:

The statute of frauds as a legal concept requires that certain contracts must be put in writing, especially contracts involving the sale of land, goods worth more than $500, and contracts lasting more than one year.  The statute acts as a defense to a breach of contract claim. In most states, a statute of frauds does not make a contract void but makes certain contracts voidable. This means that the contract remains valid and enforceable until one of the parties chooses to void the contract.

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.