Contracts and Sales Multistate Bar Practice Exam

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What are the general steps for analyzing the Statute of Frauds?

Determine if the contract was verbal
Establish if there's a written agreement
Examine if both parties signed the document
Check if the agreement is substantiated by law

The correct answer is: Establish if there's a written agreement

The focus on establishing if there's a written agreement is pivotal in analyzing the Statute of Frauds. This statute requires certain types of contracts to be in writing and signed to be enforceable. The main objective of the Statute of Frauds is to provide a clear, tangible evidence of the agreement that can help prevent disputes over the existence or terms of the contract. When determining the validity of a claim under the Statute of Frauds, verifying the presence of a written agreement serves as a foundational step. If a written document exists that outlines the essential terms of the contract and is signed by the parties, it satisfies the requirements of the Statute of Frauds and reinforces the enforceability of the contract. This step, therefore, is crucial as it directly relates to the enforceability criteria set by the law for certain categories of contracts, including those involving real estate, contracts that cannot be performed within one year, and agreements regarding the sale of goods over a certain value.