When a contract falls within the statute of frauds but is not in writing, the contract is unenforceable
A legal principle known as the statute of frauds (SOF) mandates that certain types of contracts be performed in writing. The law covers agreements involving the sale of real estate, transactions involving items valued at more than $500, and agreements lasting a year or longer.
The statute of frauds was predominantly established in the United States as common law, or unwritten law. However, in some jurisdictions, like the majority of states, it has now been institutionalized by statutes. The defendant may assert it as a defense in a breach of contract proceeding when the statute of frauds is relevant.
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