Statute of Frauds | Contracts | Defenses to Formation

This lesson covers the statute of frauds. Generally a contract does not have to be in writing to be legally enforceable. However, the statute of frauds requires that six categories of contracts (helpfully remembered by the acronym MYLEGS) must be in writing to be enforceable. We follow a 3-step analysis: (1) Does the contract in question fall within one of the six categories covered by the statute of frauds?; (2) If so, is there a writing sufficient to satisfy the statute?; and (3) if there is no sufficient writing, is there an exception that will work to satisfy the statute instead? Chapters 00:00 - Introduction 00:24 - Oral contracts generally okay 00:54 - Rationale for statute of frauds 02:42 - Overview of 3-step analysis 03:35 - Step 1: Category 17:35 - Step 2: Writing 19:04 - Common law writing requirements 24:02 - UCC Article 2 writing requirements 40:28 - Step 3: Exception 41:13 - Common law exceptions 46:14 - UCC exceptions 51:20 - Keeping the terminology straight 52:39 - Conclusion/Outro The FREE flashcards to accompany this video can be found at https://docs.google.com/presentation/d/1SP37M7mLKVkNaiUpo-Zmeqvv91_PbBvDE07EnLXf6KY/edit?usp=sharing