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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: Contracts Unenforceable for Lack of Writing or for Incapacity 41. CONTRACTS WHICH MUST BE IN WRITING.—There is in some contracts, one other requisite besides those...
Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: Contracts Unenforceable for Lack of Writing or for Incapacity 41. CONTRACTS WHICH MUST BE IN WRITING.—There is in some contracts, one other requisite besides those already spoken of, necessary to make them enforceable, and that is a writing. We have already said that a writing is not, as such essential to the validity of a contract, but there are contracts of a few special kinds that the law requires to be in writing by virtue of a very old statute called the Statute of Frauds, because it is supposed to prevent fraud and perjury. Sometimes, however, it causes fraud and perjury. We will state briefly what contracts require a writing for their validity. (1) Any contract for the sale of land, or any interest in or concerning land, requires a writing in order to make it binding. The commonest kind of contracts in regard to land are leases or contracts for leases. An oral lease creates what is called a "tenancy at will," that is, the agreement, in so far as it specifies a fixed term, is wholly invalid, but while the tenant occupies he must pay at the agreed rate; but he has no right to stay in; he may be turned out, even though he pays his rent promptly, on notice equal to the time between rent days; and, similarly, he has a right to go out on giving the same short notice. (2) A contract in consideration of marriage, that is, for a marriage settlement, must be in writing. (3) Guaranties.—This is a very important class and leads us to call attention to the distinction between a guaranty and a contract somewhat similar. Suppose A writes to Jordan, Marsh Company, "Please sell B six good shirts and charge the same to my account." That is not a guaranty. A is in that case a purchaser just as much as if he ordered the shirts sent around to himself. Nor is it any more a guaranty i...
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