What is a requirement of the statute of frauds?

The statute of frauds is a legal principle that requires certain types of contracts to be in writing to be enforceable in a court of law. One of the key requirements outlined in the statute is that contracts related to the sale, lease, or transfer of real property must be in writing. This is designed to prevent misunderstandings and disputes over agreements regarding significant assets, such as land or buildings, where the terms and conditions need to be clearly documented and agreed upon by both parties.

The requirement for real property contracts to be in writing serves to provide clarity and evidence of the agreed-upon terms, protecting both parties involved in the transaction. By requiring a written contract, it reduces the chances of disputes that may arise from oral agreements, which can often lead to differing interpretations.

In contrast, other options suggest requirements that are not typically part of the statute of frauds, such as the necessity of oral contracts being witnessed or all contracts requiring notarization. The statute of frauds specifically enumerates the types of contracts that must be in writing, focusing on significant transactions such as those involving real estate.