For the statute of frauds, you need to know: (1) when the statute applies; (2) what it requires; and (3) the applicable exceptions.
A step-by-step approach for applying the statute can be described as follows:
- Determine whether the contract is governed by the UCC or common law.
- Determine whether the statute of frauds applies to the contract (i.e., does the contract need to be in writing?).
- If the statute applies to the contract, determine whether there is a writing
- Determine whether the writing satisfies the statute.
- If there is no writing that satisfied the statute, look for an exception.