What is the primary purpose of the Statute of Frauds?

The primary purpose of the Statute of Frauds is to prevent frivolous lawsuits and clarify agreements. This legal doctrine requires certain types of contracts, including those involving the sale or transfer of real estate, to be in writing to be enforceable. By establishing this requirement, the Statute of Frauds aims to ensure that both parties have a clear understanding of their obligations and rights under the contract. It serves as a means to reduce disputes and misunderstandings over agreements that have not been properly documented, thereby establishing a formal evidentiary standard for proof of contracts in court.

The focus on written agreements is essential in real estate transactions due to the significant monetary and legal implications involved. It helps both buyers and sellers to know the terms of their agreement and provides a basis for legal recourse should disputes arise. The requirement of written agreements thereby promotes greater reliability in real estate transactions, reducing the likelihood of claims that could arise from oral agreements that are not fully articulated or remembered accurately by both parties.