Question

Which of the following is false regarding the statute of frauds? a. It relates to fraudulent contracts. b. It does not address illegal contracts. c. It does not exist at the federal level. d. The statute requires that certain contracts be in writing. e. Some states have statutes of frauds created by judicial decision rather than legislation.

Answer 1

Answer:

a. It relates to fraudulent contracts

Explanation:

The statue of frauds refers to the contract which have legal existence and should be in writing so that the parties to the contract should be bounded to the contract and fulfill their conditions mentioned in the question

It purpose is to detect

It mainly uses for MY LEGS which means that

M - Marriage, Y -Year, L - Land, E -   Executor, G -Guarantor, and S -Sale

The conditions are as follows

1. It should be in writing

2. Simple to understand

3. Agreed price and lawful consideration

4. Signature of parties to the contract

so according to the given situation, the first option is correct