The statute of frauds is the general name for each state’s statute (law) that requires certain contracts to be in writing—or to have a written memorandum that records the essential elements of the agreement—in order to be enforceable. Statutes of fraud are an exception to the general rule that verbal or oral contracts are just as enforceable as written contracts. Statutes of fraud are designed to prevent fraud and perjury (lying under oath) in transactions that are especially susceptible to fraud.

Statutes of fraud vary from state to state, but generally include (1) contracts for the sale or lease of real estate (land); (2) contracts that cannot be performed within one year from the date of the contract’s formation—such as a two-year employment contract; (3) loan agreements in excess of a certain amount; (4) contracts involving engagement promises (return of engagement rings), marriage (prenuptial agreements), or cohabitation (support, responsibilities) and post-cohabitation support (palimony); (5) contracts for the sale of goods above a certain amount (often $500); (6) promises to pay an estate’s debt from the personal funds of the executor; and (7) contracts in which one person agrees to pay the debt of another person.

In Massachusetts, the statute of frauds is codified under Massachusetts General Laws Chapter 259 Section 1. This law requires certain types of contracts to be in writing to be enforceable. These include contracts for the sale of land or any interest in or concerning land, contracts that cannot be performed within one year from the making thereof, contracts for the sale of goods for the price of $500 or more (under the Uniform Commercial Code), and promises to pay someone else's debt. Additionally, Massachusetts law requires that contracts in consideration of marriage, except mutual promises to marry, and agreements made upon consideration of marriage, other than prenuptial agreements which must be in writing, be in writing and signed by the party to be charged. The statute of frauds aims to prevent fraudulent claims and misunderstandings in these types of agreements, which are particularly susceptible to such issues. It's important to note that while the statute of frauds requires certain contracts to be in writing, it does not render verbal contracts entirely unenforceable; rather, it specifies which types of contracts must have written evidence to be enforceable in court.