statute of frauds

statute of frauds definition - business

statute of frauds

State law requiring that certain instruments be in writing and signed. Designed to prevent fraud, a statute of frauds generally applies to leases, contracts to transfer real property, and wills.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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