This case has been cited 1 times or more.
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2005-06-08 |
TINGA, J. |
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| The term "Statute of Frauds" is descriptive of statutes which require certain classes of contracts, such as agreements for the sale of real property, to be in writing. It does not deprive the parties the right to contract with respect to the matters therein involved, but merely regulates the formalities of the contract necessary to render it enforceable. The purpose of the statute is to prevent fraud and perjury in the enforcement of obligations depending for their evidence on the unassisted memory of witnesses by requiring certain enumerated contracts and transactions to be evidenced by a writing signed by the party to be charged.[22] The written note or memorandum, as contemplated by Article 1403 of the Civil Code, should embody the essentials of the contract.[23] | |||||