Final answer:
True. The statement that an agreement must be written on paper is not necessarily true as modern law also recognizes electronic documents. The key is that the agreement needs to be in a retrievable and attributable form, not necessarily a paper one.
Step-by-step explanation:
The statement 'an agreement subject to the writing requirement must be written on paper' is not necessarily true. In the realm of legal contracts, a writing requirement refers to the necessity for certain types of agreements to be in writing to be enforceable; however, this does not always mean physical paper. Modern interpretations and laws such as the Electronic Signatures in Global and National Commerce Act (E-SIGN) have recognized electronic documents as satisfying the writing requirement, provided they meet certain criteria.
For example, the Statute of Frauds, a legal concept derived from English law, requires certain types of contracts, such as those for the sale of land, to be in writing. However, this writing can be electronic. The key components are that the agreement is recorded in a manner that is retrievable in perceivable form and that it can be adequately attributed to the parties involved. Thus, while historically agreements may have been on physical paper, today they can also be digital or electronic formats.
Therefore, while a written agreement is required for certain contracts to be enforceable, it does not need to be on physical paper. What is essential is that the writing requirement simply means there must be a permanent record of the agreement that can be referred to, which can be either a physical or electronic document.