What is the consequence if a contract is not in writing according to the Statute of Frauds?

The reason a contract not in writing is considered void under the Statute of Frauds lies in the principles designed to prevent fraud and misunderstandings in significant transactions. The Statute of Frauds mandates that certain types of contracts, including those related to the transfer of real estate, must be in writing to be legally enforceable. This requirement ensures that all parties have a clear understanding of their obligations and can provide documented proof of their agreement, thus reducing the likelihood of disputes.

If a contract falls under the Statute of Frauds and is not documented in writing, it fails to meet the legal criteria for enforceability and is treated as void. This means that it cannot be upheld in a court of law, providing no legal backing for either party to seek remedies or performance under the contract. The emphasis on written contracts serves to protect all parties involved by ensuring that there is a tangible record of their agreement and its terms.