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Process Essay: The Statute Of Fraud

Decent Essays
Henry Cheeseman defines statute of frauds as, “a state statute that requires certain types of contracts to be in writing” (p. 1309). By requiring certain types of contracts in writing it will decrease the amount of issues that can arise during the execution of the contract such as mistakes and fraudulent misrepresentation. It also makes certain the terms of the contact are not forgotten or misunderstood. If a mistake or some form of fraud was committed during the execution of the contract, it will allow one or both parties to rescind the contract. This essay will discuss whether or not Rudy will be successful at rescinding his contract with Hilary based on the statute of frauds. In this situation, the contract that Hillary and Rudy entered into needed to be in writing because the sale of the vehicle was more than $500. Cheeseman writes, “If an oral contract that should…show more content…
If this contract to purchase the car was in writing, Rudy could have included certain language in the agreement that would have allowed him to rescind the contract if any future issues with car arose. If the contract was in writing and it could be proven that Hillary had concealed or intentionally deceived Rudy about the condition of the car, then Rudy could have a chance to get the contract rescinded for fraud. In regards to the oral agreement between Hillary and Rudy over the sale of the car, Rudy will not be successful at any attempts to rescind their contract. The two main reasons are because the contract has already been executed and the law required this contract to be in writing because the monetary value exceeded $500. If Hillary and Rudy would have entered into a written agreement, the problems that arose with the car could have allowed Rudy to get his money back or forced Hillary to pay for some of the problems depending on the contract
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