Discuss the Statute of Frauds as It Relates to Contract

question 99

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 changes related to the Statute of Frauds in several jurisdictions.

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Definitions:

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance, depending on the account type.

Internal Control

Systems and processes implemented by a company to ensure integrity of financial and accounting information, promote accountability, and prevent fraud.

Objectives

The goals or aims that an organization or individual strives to achieve over a certain period.

Implementation

The process of putting a decision or plan into effect; execution of a plan, idea, or policy.