Statute of frauds

The statute of frauds exists to prevent people from suing each other over big promises that were never put in writing. It typically covers things like sales of land, agreements that cannot be performed within one year, contracts to pay someone else's debt, and sales of goods over a certain dollar amount. If a contract falls within the statute and there is no signed writing, the other side can ask the court to dismiss the lawsuit. There are exceptions, such as when one side has already partly performed or when both sides admit the deal existed. The specific list of covered contracts and exceptions varies by state.