In Pennsylvania, the following types of agreements must be in writing in order to be enforceable:
1. A contract for the sale of land;
2. A contract for the sale of goods having a price of $500 or more;
3. A contract to answer for the debt of another (guarantee or surety agreements); or
4. A promise of an estate executor to pay the estate's debts out of his or her own pocket.
Furthermore, PA requires that the writing contain the following essential terms:
1. Identity of the parties
2. Subject matter of the contract
3. Conditions of the promise made; and
4. The signature, initials, or letterhead of the party against whom enforcement is sought.
There are exceptions to the Statute of Frauds that I will discuss in a future post. The bottom line is that it is always best to put an agreement in writing. But if you don't you still have a good chance of enforcing the contract. Share this post :