What is the statute of frauds?

The statute of frauds is a set of laws in Indiana that require certain legal contracts to be in writing in order to be enforced. This includes any contract that involves real estate, any agreement that cannot be completed within one year, any agreement of marriage, and any contract that transfers money or goods over a certain amount of money. The purpose of the statute of frauds is to provide a measure of protection for both parties involved in a legally-enforceable contract. This means that without clear, written evidence of the contract, it is very difficult for one party to prove that the contract was actually made. The written contract also acts as a way for the court to determine the exact terms of the agreement between the parties. In addition, the statute of frauds helps to avoid any confusion between the parties. If the parties do not have a written agreement, then all of the details of the agreement are subject to interpretation. This can lead to misunderstandings and potentially even lawsuits. In Indiana, any contract that falls under the statute of frauds must be carefully written, signed, and dated by both parties in order for it to be legally enforceable. If any of the required elements are missing, then the contract will be void. The statute of frauds is a very important part of civil procedure in Indiana and should be taken seriously.

Related FAQs

What is class action litigation?
What is the burden of proof in civil cases?
What is a motion for default judgment?
What is a motion for a preliminary injunction?
What is a motion for summary judgment?
What is the difference between a settlement conference and a motion for summary judgment?
What is a motion for injunctive relief?
What is the process of filing a motion?
What are the elements of negligence?
What are the applicable statutes of limitations?

What is the statute of frauds?

Related FAQs

Related Blog Posts