What is the statute of frauds?

The statute of frauds is an Arizona state law that requires certain types of contracts to be in writing in order to be enforceable in court. This law is meant to protect individuals from being tricked into entering a contract that they otherwise would not have signed. Generally, contracts involving marriage, real estate, goods over a certain amount of money, and contracts that will not be completed within one year must be in writing to be enforceable in court. The purpose of the statute of frauds is to put people on notice that certain types of contracts must be in writing in order to be legally binding. It also prevents fraudulent misrepresentations from being made orally, as they can be more easily proven in writing. Additionally, it is meant to protect individuals from having to pay for goods or services they did not intend to purchase or use. The statute of frauds is an important law that protects individuals from being taken advantage of in signing contracts. It ensures that individuals cannot be tricked into committing to a contract that would be too hard to prove later, if needed. It encourages individuals to think carefully when signing any contract and to always get everything in writing.

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What is the statute of frauds?

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