What are the "Statue of Frauds" and what is it's purpose?
This article tells about a statue that is claimed to be a fraud.
http://www.cwnews.com/news/viewstory.cfm?recnum=31142
The phrase you mentioned, "Statue of Frauds," seems to be a typo or a misinterpretation. I believe you are referring to the "Statute of Frauds."
The Statute of Frauds is a legal principle that originated in England and has been adopted by various common law jurisdictions, including the United States. It refers to a legislative enactment that requires certain types of contracts to be in writing in order to be legally enforceable. The purpose of the Statute of Frauds is to prevent fraudulent claims and misunderstandings that may occur in oral contracts.
The specific requirements under the Statute of Frauds vary slightly among jurisdictions, but the following types of contracts typically fall within its scope:
1. Contracts for the sale or transfer of land or real property.
2. Contracts that cannot be performed within one year.
3. Contracts for the sale of goods over a certain monetary amount.
4. Contracts where someone guarantees, or takes on the responsibility for, the debt or obligation of another person.
The purpose of these requirements is to create a reliable and consistent method for documenting and proving the terms of certain important contracts. By mandating written agreements, the law aims to reduce the likelihood of disputes or falsehoods in legal proceedings.
In relation to the article you shared, it seems to be unrelated to the Statute of Frauds, focusing instead on a different type of fraud.