BCL – L1 – SA – Q27 – Contract Law

Which contracts fall under the statute of frauds?

Question

In most states the following types of contracts are within the statute of frauds:
A Contracts for the sale of an interest in personal property.
B Contracts that can be performed within a year from the date of their formation.
C Contracts for the sale of goods.
D Contracts for the sale of goods for a price of $500 or more.

Answer

Explanation:
The statute of frauds requires certain contracts to be in writing to be enforceable. Under the Uniform Commercial Code (UCC), contracts for the sale of goods priced at $500 or more must be in writing. Option D is correct because it accurately identifies this requirement. Option A is incorrect because the statute of frauds typically applies to real property, not personal property, unless specified (e.g., goods under the UCC). Option B is incorrect because contracts performable within one year are exempt from the statute of frauds. Option C is too broad, as not all contracts for the sale of goods require a writing—only those meeting the $500 threshold.

Tags: Contract Law, Sale of Goods, Statute of Frauds, UCC
Level: Level 1

Topic: Contract Law

Uploader: Samuel Duah