What is the purpose of the statute of frauds?

The purpose of the statute of frauds is to establish that certain types of contracts must be in writing to be enforceable in a court of law. This legal principle aims to prevent misunderstandings and fraud that can arise from verbal agreements. By requiring a written record, the statute provides clarity on the terms of the agreements and serves as evidence of the parties' intentions. Typically, contracts involving significant commitments, such as real estate transactions or agreements lasting longer than one year, fall under this requirement. This foundational concept helps to ensure legal certainty and protect the rights of the parties involved.