Name the Exceptions to the Statutes to Prevent Fraud and describe them.

Expert Solution

Answer ) The statute of frauds explains purposes of special kinds of contracts be done in a writing, signed by all the parties , with sufficient content to evidence the contract.The sign doesn't required to be on the bottom of contract but can be anywhere.

In general term , the statute of frauds requires a written proof in the following circumstances:

Contracts in consideration of marriage.
Contracts with longer time to perform.
Contracts for the transfer of an interest in land.
Contracts for the sale of goods with minimum cost of $500.00..

the Exceptions to the Statutes to Prevent Fraud , means an agreement may be enforced even if it does not comply with the statute of frauds in many conditions stated as below

A statute of frauds defense can be affected by use of part performance. If the parties have started action in light of the agreement. Every performance and working parts a contract that falls outside the Statute of Frauds .Only the unexecuted portion of the contract falls within the Statute of Frauds and is unenforceable.
Promissory estoppel may be applied in some but not all jurisdictions relies on the otherwise unenforceable contract^..
The "main purpose rule" as it links to give surety ship : in which the promisor's promise to pay for the debt of another then it is a primary promise, and enforceable even without a writing.
Easements by implication: generally allow the use of property by someone without no interest in theproperty, may be created by operation of law rather than by written instrument. In such special case,the implied easement constitutes an interest in land that does not require a writing to be enforceable.
Admission of the continuation of a agreement by the defendant under oath. The contract will only valid for the quantity of goods that were asked.
Merchant confirmation rule. In case of merchant relationship, if a party of trade sends in writing to fulfill the statute of frauds to another party or parties in trade and the receiving party/parties have reason to know about the sent confirmation and not stop such confirmation within 10 days, such confirmation of trade satisfy the statute, even without signed by the parties.

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