What is the Statute of Frauds applicable to?

The Statute of Frauds is a series of laws that are applicable to certain types of contracts in Nebraska. This law requires certain types of agreements to be in writing and signed by the parties involved in order to make them legally binding. The most common types of contracts that are subject to this law are agreements involving real estate, agreements for the sale of goods for $500 or more, promises to pay someone else’s debt, and contracts that cannot be completed within one year. In Nebraska, the Statute of Frauds does not apply to a few common types of contracts, including contracts related to the sale of goods priced lower than $500, contracts related to the delivery of goods, or contracts that will be completed within one year. It also doesn’t apply to contracts of employment, contracts for the sale of services, or contracts made for the benefit of a third party. The Statute of Frauds is designed to protect all parties involved by ensuring they are informed of the terms of the agreement and that it is in writing. Without this law, there could be a situation in which someone claims they had an agreement with another party but there is no evidence to prove it. This statute protects everyone by ensuring that all agreements are clear and properly documented.

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What is the Statute of Frauds applicable to?

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