Question

The statute of frauds includes contracts that:

A) representations that could be false
B) personal property with a value of more than $1,000.00
C) includes minors as one or more parties
D) take more than a year to complete

Answer 1

The Statute of Frauds requires that certain contracts be in writing to be enforceable, specifically, those that take more than a year to complete. Other options do not directly correlate with the Statute of Frauds.

Step-by-step explanation:

The Statute of Frauds is a legal concept that requires certain types of contracts to be in writing in order to be enforceable. The options presented relate to the types of contracts that typically fall under the Statute of Frauds. Of the options provided, the correct answer is that the Statute of Frauds includes contracts that:

D) take more than a year to complete. This type of contract must generally be in writing to be enforceable under the Statute of Frauds because of the potential complexities and risks involved with long-term agreements.Contracts involving minors or representations that could be false, or the value of personal property, may have specific rules or considerations, but these are not the primary focus of the Statute of Frauds.

Contractual rights are based on property rights and they provide assurances to individuals that they can enter into agreements regarding the use of their property, and seek legal recourse if necessary. Overall, contracts that fall under the Statute of Frauds must meet certain criteria to ensure legal enforceability, with the intention of mitigating possible misunderstandings and disputes.