Formalities And Estoppel - Contract

FORMALITIES AND ESTOPPEL * * At common law, contracts do not have to be in writing or evidenced in writing o They often are, because it is easier to prove there is a contract SS? Evidentiary function (reliable evidence) SS? Cautionary function (think carefully before signing) SS? Easier to see if a contract exists SS? What is the content of the contract SS? Protect vulnerable parties EXCEPTIONS o Where the parties agree that writing is required o Where a statute requires a non--verbal contract SS? THIS IS A FORMALITY Types of Formalities: * Contracts made by deed o Gratuitous promises * Contracts must be in writing or evidenced in writing o Statute of Frauds (1677) - UK SS? MY LEGS * Marriage * Year * Land * Executor * Goods * Surety o Contract must be in writing or there must be a note or memorandum o Enabled people to abuse their contractual duties PAGE 61 Guarantees: * Property Law Act 1974 s56 o Guarantees must be in writing No action may be brought upon any promise to guarantee any liability of another unless the promise upon which such action is brought, or some memorandum or note of the promise, is in writing and signed by the party to be charged, or by some other person by the party lawfully authorised. * Contracts similar to guarantees that don't have to be in writing o Contracts of indemnity o Promises of guarantee to the debtor not the lender o Promise to take over the debt of another o Letters of comfort Sale of Land: * Property Law Act 1974 s59 No action may be brought upon any contract for the sale or other disposition of land or any interest in land unless the contract upon which such action is brought, or some memorandum or note of the contract, is in writing and signed by the party to be charged or by some person by the party lawfully authorised o Riches v Hogben PAGE 62