What does the Statute of Frauds require for contracts to be enforceable?

The Statute of Frauds is a legal doctrine requiring certain types of contracts to be in writing in order to be enforceable. This statute is designed to prevent fraud and perjury in certain types of agreements by ensuring that there is tangible evidence of the contract's existence and its terms.

Under the Statute of Frauds, contracts related to the sale of real estate, contracts lasting longer than one year, or agreements involving significant amounts of money must be documented in writing and signed by the parties involved. This requirement helps protect all parties by providing a clear and concrete record of their obligations and intentions, thereby reducing the potential for disputes over verbal agreements that can be difficult to prove.

In contrast, options such as witness signatures or verbal agreements do not meet the necessary legal standards established by the Statute of Frauds, as the aim of the statute is to emphasize the importance of written documentation in certain scenarios. Likewise, while mutual consent is critical in forming a contract, it does not address the written requirement that the Statute of Frauds specifically stipulates. Thus, the requirement for written documentation is the fundamental aspect of ensuring enforceability under this statute.