What is the effect of the statute of frauds on a securities arbitration award?
The statute of frauds is a law that requires certain agreements to be in writing in order to be enforceable in court. In New Hampshire, the statute of frauds applies to securities arbitration awards. This means that any agreement or award resulting from a securities arbitration must be in writing to be legally enforceable. The purpose of the statute of frauds is to protect both parties to a securities arbitration. It guards against fraud or misrepresentation by ensuring that all the terms of the award are properly documented and in writing. This helps prevent one party from taking advantage of the other. The effect of this law on a securities arbitration award is that the award must be in writing and properly documented. The documents must include the names of the parties to the arbitration, the dates on which the award was made, and the exact terms of the award. The documents must also be signed by the parties to the agreement. If any of these requirements are not met, the award will not be legally enforceable in New Hampshire. In short, the effect of the statute of frauds on a securities arbitration award is that the award must be in writing and properly documented in order to be legally enforceable. This is designed to protect both parties and to ensure that the terms of the award are respected by both parties.
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