question archive Which oral promise violates the statute of frauds? (A) Ron promises Lender that, if Lender loans $5,000 to Ron's father and Ron's father does not repay the loan, then Ron will repay the loan

Which oral promise violates the statute of frauds? (A) Ron promises Lender that, if Lender loans $5,000 to Ron's father and Ron's father does not repay the loan, then Ron will repay the loan

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Which oral promise violates the statute of frauds?

(A) Ron promises Lender that, if Lender loans $5,000 to Ron's father and Ron's father does not repay the loan, then Ron will repay the loan.

(B) Personal representative promises Dave, Attorney at Law, that an estate will pay Dave, Attorney, $100 per hour for services rendered to the estate.

(C) Personal representative promises Bob, Attorney at Law, that the personal representative will pay Bob, Attorney $100 per hour for services rendered to the estate.

(D)  A and C.

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Answer. A

Explanation:

Agreements Covered by the Statute of Frauds

As applied in the United States, the concept generally requires the following types of contracts to be written in order to be legally binding. The mnemonic MYLEGS is sometimes used to help recall the scope of these agreements; the relevant letters are capitalized below.

  • Any promises made in connection with Marriage, including such gifts as an engagement ring.
  • Contracts that cannot be completed in less than one Year.
  • Contracts for the sale of Land. (Leases need not be covered unless they're of a year or more in length.)
  • Promises to pay an estate's debt from the personal funds of the Executor. (However, promises to pay such debt from the funds of the estate are not subject to the statute of frauds.)
  • Contracts for the sale of Goods above a certain dollar amount, typically $500.
  • A contract in which one person promises to pay the debt of another person is considered a "Surety," and is subject to the statute of frauds.