Statute Of Frauds Legal Meaning and Definition

Here is a simplified definition of the legal term Statute Of Frauds.

Statute of Frauds (noun)

The Statute of Frauds is a set of laws requiring certain types of contracts, such as those involving real estate or agreements that last longer than one year, to be in written form and signed by all parties involved. It's mainly designed to prevent false or fraudulent claims about certain transactions where actual ownership or agreement might not be obvious.