What is the statute of frauds?

The statute of frauds is a set of laws in Texas that requires certain kinds of contracts to be in writing in order to be valid. These contracts include those that involve the transfer of real estate, those that create an obligation to pay someone a certain amount of money, those that involve selling goods or services for more than $500, and those that involve certain kinds of property leases. For example, if someone wants to buy a house, the contract must be in writing in order to be valid under the statute of frauds. Similarly, if someone wants to lease an apartment for more than one year, the contract must be in writing in order to be valid under the statute of frauds. The statute of frauds helps to ensure that contracts are followed and that there is no confusion or misunderstandings about the terms of the agreement. It also helps to protect people from oral contracts that may not be enforceable in a court of law.

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What is the statute of frauds?

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