Louisiana Bail Bonds Practice Exam

What does the Statute of Frauds require for certain types of transactions?

1. They must be oral agreements

2. They must be in writing

3. They must be notarized

4. They must be registered

The correct answer is: They must be in writing

The Statute of Frauds mandates that specific types of agreements must be documented in writing to be enforceable in a court of law. This requirement helps prevent potential disputes over the terms of the agreement and ensures there is tangible evidence of the obligations and rights of the parties involved. Transactions generally included in the Statute of Frauds are those related to the sale of real estate, contracts that cannot be performed within one year, and certain agreements like those involving marriage promises, among others. The statute serves as a safeguard against fraudulent claims and misunderstandings that can arise from purely oral agreements, which are more difficult to verify in instances of dispute. By necessitating a written document, the law seeks to create a clear record and promote clarity between the parties. Notarization and registration may relate to specific types of documents or agreements but are not universal requirements of the Statute of Frauds itself.