Contracts/Statute of frauds

From English statutory law (29 Car. II c. 3) passed in 1677, the requirement that certain kinds of transactions, typically contractual obligations, be evidenced by a writing signed by the party against whom inforcement is sought, or by her authorized agent. Such writing is a precondition to maintaining a suit for breach of contract (or other obligation). It is more properly called the Statute of Frauds and Perjuries.

Traditionally, the statute of frauds requires a writing signed by the party against whom enforcement is sought in the following circumstances:

• Contracts in consideration of marriage
• Contracts which cannot be performed within one year
• Contracts for the sale of land
• Contracts by the executor of a will
• Under the Uniform Commercial Code, contracts for the sale of goods worth more than $500
• Contracts in which one party provides surety (acts as guarantor) for another party's debts.

Law students often remember these circumstances by the mnemonic "MYLEGS" (marriage, year, land, executor, goods, surety).