What is the Statute of Frauds applicable to?

The Statute of Frauds is a legal doctrine found in South Carolina’s contract law. It states that certain contracts must be in writing and signed by both parties in order to be enforceable. This law was created to reduce fraud and prevent people from claiming they agreed to something that was never actually agreed upon. The types of contracts covered by the Statute of Frauds include contracts for the sale of goods over $500, contracts for real estate, contracts that cannot be performed within a year, surety contracts, and contracts for marriage. These contracts must be in writing and signed by both parties in order to be legally enforceable. It is important to note that even if a contract is not covered by the Statute of Frauds, it is generally best practice to get all contracts in writing in order to protect yourself. Written contracts can help ensure that disputes that may arise in the future are resolved more easily since all parties involved agreed to the terms in writing. In summary, the Statute of Frauds states that for certain types of contracts, both parties must sign the contract in order for it to be legally binding. This includes contracts for the sale of goods over $500, contracts for real estate, contracts that cannot be performed within a year, surety contracts, and contracts for marriage.

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What is the Statute of Frauds applicable to?

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