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Video instructions and help with filling out and completing Will Form 5495 Statutory

Instructions and Help about Will Form 5495 Statutory

How do you analyze the statute of frauds on a contracts essay question we'll step one what is the statute of frauds in short you should think about the statute of frauds is merely an evidentiary requirement needed to prove that a contract existed between the parties imagine the following scenario let's say that you own a Lamborghini a brand new Lamborghini and I really want your Lamborghini but of course I can't afford it I can't offer you a fair price for your Lamborghini I don't have the money so instead I concoct a scheme right I have some knowledge of contract law so you I say you know what I'm gonna sue so-and-so for breach of contract I'm gonna say that we had an oral contract for the purchase and sale of your Lamborghini for $1,000 so I go to court I sue you for breach of contract and I tell the court guess what so-and-so offered to sell me his Lamborghini orally for a thousand dollars and I accepted we have offer acceptance the thousand dollars of sufficient consideration we have a traditional enforceable contract so I'm gonna pay so-and-so a thousand dollars he has to provide me the Lamborghini the court is gonna say that's fine Michael if you did have a contract for the purchase and sale of the Lamborghini for a thousand dollars we'll enforce that but you have to provide us proof that that contract existed that contract falls under the statute of frauds so in order to enforce it you're gonna have to show a satisfaction of the statute of frauds some sort of evidence that this contract existed in generally under the statute of frauds that's gonna require me to produce a signed writing for the purchase and sale of the...