Contract. When most people hear that word they think of a time consuming piece of paper. Instead, they should think of an agreement or something that could possibly save them hundreds of dollars. Also, they should not just think of a piece of paper. For contracts to be enforceable, they do not have to be in writing. Yes, some contracts are on paper and sometimes there are some contracts that are required to be in writing, but there is also contracts that are electronic. Most verbal contracts are valid and upheld by the court, but it may be a smart idea to put a contract in writing so that its terms are clear.
There are six types of contracts stated in The Statutes of Frauds that must be in writing for them to be enforced. The following six …show more content…
One of the major procedures that need to be followed is to make sure that all written agreements need to be signed by both parties. If there is only one party that signs that agreement, the agreement will only be compelled to that party. Facsimile signatures, which is a copy of the signature, are also allowed on a contract, but only if the contract states that they are valid, some states have laws allowing facsimile signatures. Then there are illiterate people who usually sign written contracts with an “X”, but these signatures should have a witness to say that they have signed it. Witnesses are not required when parties enter written agreement, but it helps to avoid misunderstandings.
As anyone can tell, contracts are important. One negative thing about contracts is that sometimes you cannot form a contract and get both parties to sign it because a lot of people enjoys doing online shopping. The law has provided some solutions for these types of difficulties. Three acts passed to address these situations are the E-Sign Act, the Uniform Electronic Transaction Act (UETA), and the Uniform Computer Information Transaction Act …show more content…
When the seller is about to sell the property or something to the buyer, it is important that the seller also signs the contract between them, which the Statue of Frauds states that it is a requirement for the seller to sign it. In 2011 the North Carolina Supreme Court upheld the sale of a piece of land and the seller did not sign the contract, but spoke out loud in the court that he was going to transfer the property. After court dismissed, the plaintiff refused to complete the transaction. The Court did note that the document was not in writing and because of that, it did not satisfy the Statue of Fraud. The Court decided to take look at the numerous emails between the attorneys and the buyer hoping that they would find an email saying that he/she was going to transfer the property over, but they found nothing. But before everything was all over the court made the plaintiff transfer the property
There are six types of contracts stated in The Statutes of Frauds that must be in writing for them to be enforced. The following six …show more content…
One of the major procedures that need to be followed is to make sure that all written agreements need to be signed by both parties. If there is only one party that signs that agreement, the agreement will only be compelled to that party. Facsimile signatures, which is a copy of the signature, are also allowed on a contract, but only if the contract states that they are valid, some states have laws allowing facsimile signatures. Then there are illiterate people who usually sign written contracts with an “X”, but these signatures should have a witness to say that they have signed it. Witnesses are not required when parties enter written agreement, but it helps to avoid misunderstandings.
As anyone can tell, contracts are important. One negative thing about contracts is that sometimes you cannot form a contract and get both parties to sign it because a lot of people enjoys doing online shopping. The law has provided some solutions for these types of difficulties. Three acts passed to address these situations are the E-Sign Act, the Uniform Electronic Transaction Act (UETA), and the Uniform Computer Information Transaction Act …show more content…
When the seller is about to sell the property or something to the buyer, it is important that the seller also signs the contract between them, which the Statue of Frauds states that it is a requirement for the seller to sign it. In 2011 the North Carolina Supreme Court upheld the sale of a piece of land and the seller did not sign the contract, but spoke out loud in the court that he was going to transfer the property. After court dismissed, the plaintiff refused to complete the transaction. The Court did note that the document was not in writing and because of that, it did not satisfy the Statue of Fraud. The Court decided to take look at the numerous emails between the attorneys and the buyer hoping that they would find an email saying that he/she was going to transfer the property over, but they found nothing. But before everything was all over the court made the plaintiff transfer the property