What is the name of the law requiring that certain contracts be in writing?

Get ready for the AceableAgent Promulgated Contracts Test. Practice with multiple choice questions, each offering hints and detailed explanations. Boost your confidence and ace your exam!

The name of the law requiring that certain contracts be in writing is the Statute of Frauds. This legal concept originated in English law and has been adopted in some form by most jurisdictions in the United States. The Statute of Frauds mandates that specific types of agreements be documented in writing to be enforceable in court. This includes contracts involving the sale of real estate, agreements that cannot be performed within one year, and contracts for the sale of goods over a certain value, among others.

The purpose of the Statute of Frauds is to prevent potential fraud and misunderstandings in transactions. By requiring written evidence of these agreements, the law helps ensure that parties cannot easily deny the existence of a contract or its terms. This foundational principle is crucial in promoting clarity and accountability in contractual relationships.

While the other options mentioned—such as the Parol Evidence Rule, Uniform Commercial Code, and Contract Law Act—are related to contract law, they address different aspects. The Parol Evidence Rule deals with the admissibility of evidence outside of a written contract, the Uniform Commercial Code primarily governs commercial transactions, and the Contract Law Act varies in its applications but does not specifically mandate writing for certain contracts.

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