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how do you analyze the statute of frauds on a contracts essay question well step one what is the statute of frauds in short you should think about the statute of frauds is merely an evidentiary requirement needed to prove that a contract existed between the parties imagine the following scenario lets say that you own a Lamborghini a brand new Lamborghini and I really want your Lamborghini but of course I cant afford it I cant offer you a fair price for your Lamborghini I dont have the money so instead I concoct a scheme right I have some knowledge of contract law so you I say you know what Im gonna sue so-and-so for bdocHub of contract Im gonna say that we had an oral contract for the purchase and sale of your Lamborghini for $1,000 so I go to court I sue you for bdocHub of contract and I tell the court guess what so-and-so offered to sell me his Lamborghini orally for a thousand dollars and I accepted we have offer acceptance the thousand dollars of sufficient consideration we h