What is the Statute of Frauds applicable to?

The Statute of Frauds is a law in Washington that applies to certain types of contracts. It is designed to prevent fraudulent activities or misunderstandings in contract formation. Generally, the Statute of Frauds requires that a contract involving the transfer of property or services must be documented in writing and signed by the parties involved. The Statute of Frauds typically applies to real estate transactions, consumer protection agreements, contracts for marriage, contracts involving the sale of goods in excess of $500 dollars, and any contract that has a term of more than one year. It can also be applied to other types of contracts, such as those involving the sale of intellectual property or the transfer of business ownership. When a contract subject to the Statute of Frauds is involved, it is important to ensure that the issue is documented in a written agreement that is signed by all of the parties involved. This ensures that the terms of the contract are clear and that any verbal agreements made will be enforced. If a contract does not comply with the Statute of Frauds, it may be deemed unenforceable in court.

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What is the Statute of Frauds applicable to?

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