Question

Chelsea verbally agrees to pay $1,000 to Annie for her hair services within thirteen months. Must this agreement be in writing under the statute of frauds? Yes. The one-year rule requires all contracts that cannot be performed within one year to be in writing. No. This scenario is not subject to the statute of frauds. No. This contract would be enforceable, since it is possible Chelsea could pay earlier than a year. None of the above.

Answer 1

Answer:

Yes. The one-year rule requires all contracts that cannot be performed within one year to be in writing.

Explanation:

Indeed, under the 'statute of frauds' concept, contracts involving the sale of land that over $500 and lasts for more than a year must be put in writing.

In other words, according to the 'statute of frauds' legal concept, the contractual agreement made by Chelsea and Annie extends above 1 year and is above $500, and so must be put down in writing.