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What is the purpose of the statute of frauds what kinds of

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Reference no: EM13472297

PART  - The Statute of Frauds

1. What is the purpose of the Statute of Frauds? What kinds of contracts must be in writing to be valid? What must be contained in "the writing" that is required?

2. If two parties make and fully perform a verbal contract to sell a car for $10,000, does that make the contract illegal? Must the transaction be canceled? What happens to the transaction after it is performed?

Reference no: EM13472297

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