What is the Statute of Frauds applicable to?

The Statute of Frauds is a law of contract law that is applicable to certain contracts in the state of Texas. This statute requires certain contracts to be in writing and signed by the parties in order for the agreement to be legally binding. The Statute of Frauds applies to contracts that involve the transfer of land or title, contracts that are not to be performed within one year of being made, contracts involving the sale of goods over a certain cost ($500), contracts involving the appointment of an executor, and contracts of debt, such as promissory notes. The statute also requires certain contracts that guarantee a future performance, such as guarantor agreements, to be in writing and signed. The Statute of Frauds is important because without it, many contracts could not be enforced and it can be difficult to prove an agreement that is not in writing. The Statute of Frauds also provides protection to the parties involved in the agreement as it ensures that all parties are aware of their rights and obligations. If a contract does not meet the requirements of the Statute of Frauds, it is not valid and cannot be enforced in Texas.

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What is the Statute of Frauds applicable to?

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