Question

Based upon the assigned readings from your Business Law textbook, which of the following must be in writing pursuant to the Statute of Frauds Select one:

a. A contract to provide management consulting services for a 6 month period, for a set fee of $2.5 million
b. A contract for a mother to convey title to a lake lot to a daughter, for $1
C. An indemnity for 6 months for potential environmental damage to a watershed caused by a logging operation
d. A contract to supply bottled water to a company lunchroom on a monthly basis, with either party being able to terminate upon 30 days notice to the other party

Answer 1

The contract that must be in writing according to the Statute of Frauds is the one involving the conveyance of real property, even if the consideration is only $1.

Step-by-step explanation:

Among the options provided, based on the principle of the Statute of Frauds, b. A contract for a mother to convey title to a lake lot to a daughter, for $1 must be in writing. The Statute of Frauds requires certain types of contracts to be in writing to be enforceable. Specifically, contracts for the sale of land, or any interest in land, must be written to satisfy the statute. Though the amount of consideration is nominal ($1), the writing is still required because the subject is real property.