What law requires certain contracts to be in writing to be enforceable?

The Statute of Frauds is the law that requires certain types of contracts to be in writing in order to be enforceable. This legal principle aims to prevent fraudulent claims and misunderstandings by ensuring that important agreements are documented. Specifically, the Statute of Frauds typically applies to contracts involving real estate, contracts that cannot be performed within one year, and agreements to pay someone else's debts, among other instances.

The importance of having contracts in writing is underscored in real estate transactions, where large sums of money and significant commitments are involved. By requiring written documentation, the law provides clarity and reduces the risk of disputes over what was agreed upon.

Understanding the Statute of Frauds is crucial for anyone involved in real estate, as it not only helps maintain professionalism within the industry but also protects the rights of all parties.