Feb 5, 2020

When in Doubt Write it Out: Modifying, Cancelling, Revoking or Rescinding a Contract Subject to the Statute of Frauds


When entering into a contract, parties always have to ask themselves whether the contract must be written down and signed. Under the Georgia Statute of Frauds, contracts for (1) marriage; (2) sale of real property; (3) guaranteeing another’s debts; (4) terms of longer than one-year; (5) sale of goods for more than $500; (6) executor or other estate representative, promising to pay damages out of his/her own estate; (7) reviving a debt after the passage of the statute of limitations; and (8) commitment to lend money, must be in a writing and signed by the party to be charged therewith…. Read more