Statute of Frauds

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Related to constructive trust: implied trust

Statute of Frauds

A statute setting out certain contracts that are not enforceable within the state. The most significant provisions for real estate purposes are those that require almost all contracts and transfers related to real estate to be in writing and all guarantee agreements to be in writing.This does not mean there must be a formal “contract”or “agreement”signed by all parties.The Statute is usually satisfied if there is some writing signed by the party sought to be held liable.

Example: A letter from Sam Seller to Betty Buyer says, “Dear Betty, I'm glad you like the home so much. Your offer of $150,000 was more than I was expecting, so I'll be out shopping for a new home while you get ready for closing. I'm looking forward to seeing you again at the end of the month; do you mind terribly if I don't move out until a day or two afterward? Warmest regards, Sam.” This might be sufficient to allow Betty to enforce a sale contract. Even a combination of e-mails, read together, could suffice for Statute of Frauds purposes in some states. See also Uniform Electronic Transactions Act.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Comment e to the final version of section 774B acknowledges the overlapping cause of action in restitution for constructive trust. See RESTATEMENT (SECOND) OF TORTS [section] 774B cmt.
The imposition of remedial constructive trusts as an exception favouring women after common law cohabitation arrangements have dissolved seems particularly just, while still preserving the sanctity of property as a rule.
amounts to unconscionable conduct which attracts the intervention of equity and the imposition of a constructive trust ...
(208) In some cases, a constructive trust over some property seems to be the right remedy.
In Havoco, the Florida Supreme Court made clear that the imposition of an equitable lien or constructive trust on the homestead requires that the funds be obtained through fraud or egregious conduct and be used to invest in, purchase, or improve the homestead.
However, "[a] constructive trust, unlike an express trust, is not a fiduciary relation, although the circumstances which give rise to a constructive trust may or may not involve a fiduciary relation." RESTATEMENT (FIRST) OF RESTITUTION [section] 160 cmt.
Although the mere receipt of the moneys, in ignorance of the mistake, gives rise to no trust, the retention of the moneys after the recipient bank learned of the mistake may well have given rise to a constructive trust...
The same facts gave rise to equitable relief in the form of an equitable estoppel that could be satisfied by the imposition of a constructive trust and also statutory relief under the Family Provision Act 1982.
(21) The plan members argued that the sale proceeds were subject to a statutory deemed trust under section 57(4) of the Pension Benefits Act (PBA) (22) and a constructive trust on the basis of breach of fiduciary duty by Indalex as plan administrator.
Here, the Court found that the defendant held the fund on a constructive trust in favour of the claimant.
CONTENTS I Introduction II The Unconscionable Dealings Doctrine III Undue Influence IV Australian Fiduciary Law V Estoppel in Equity VI The Constructive Trust VII The Statutory Context VIII Conclusion I INTRODUCTION

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