Discuss the Statute of Frauds as It Relates to Contract

question 100

Essay

Discuss the Statute of Frauds as it relates to contract law. In your answer, consider the justification of requiring some contracts to be evidenced in writing, and also how and why the Statute of Frauds has been modified or repealed in several jurisdictions.

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Definitions:

Benefit of the Bargain

A principle in contract law that allows a party harmed by a breach to recover the value of what they were promised in the contract.

Rescind

To cancel a contract.

Seller

An individual or entity that offers goods or services for sale to consumers or other businesses.

UCC

The Uniform Commercial Code (UCC) is a comprehensive set of laws governing commercial transactions, including sales of goods and secured transactions, in the United States.