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 New Hampshire, the statute of frauds is codified under RSA 506:1 and requires certain types of contracts to be in writing to be enforceable. These include contracts for the sale of real property, agreements that cannot be completed within one year, and promises to pay someone else's debt. New Hampshire's statute of frauds also applies to contracts for the sale of goods valued at $500 or more, in line with the Uniform Commercial Code (UCC) Section 2-201. While the statute does not explicitly mention all the categories listed, such as marriage or cohabitation agreements, these types of contracts often have their own specific requirements under other laws. For example, prenuptial agreements in New Hampshire must be in writing and signed by both parties to be enforceable. The purpose of these requirements is to prevent fraud and perjury by ensuring that there is clear and reliable evidence of the contract's terms.