Question

what does the Statute of Frauds require?

Answer 1

Statue of Frauds : A statute that requires certain contracts to be written and signed by the parties bound by the contract.

Now we will understand what does yth statute of frauds require ?

Generally, there are two main reasons for statues of frauds and Both of them are related to the public policy.

First, Because theses statutes work with an agreement so due to this both parties take long time considering the agreement. The statues cover significant agreement that sometime leads to serious result.

Secondly, this kind of statute mainly formed to prevent the fraud by one of the parties. The writing part of the agreement ensure that parties meant to make the agreement and that they know all the details of the agreement.