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Oral agreements are generally enforceable but are often discouraged due to challenges in proving their existence. While they can be binding if proven, the Statute of Frauds, originally enacted in England in 1677 and adopted by all U.S. states with variations, provides exceptions requiring certain contracts to be in writing to be enforceable. This statute aims to protect against fraud in important contracts by ensuring there is written documentation. Every state mandates that five specific types of contracts must be signed and in writing: 1) contracts for the sale of real property, 2) contracts in consideration of marriage, 3) contracts that cannot be performed within one year, and other specified contracts.
