A fully-performed oral contract that should have been in writing under the Statute of Frauds can be rescinded by either party.

Question

Quizplus · Accepted Answer

A fully-performed oral contract that should have been in writing under the Statute of Frauds is enforceable and cannot be rescinded by either party simply because it was not in writing. However, the lack of a written agreement may affect the enforceability of certain terms or provisions in the contract.

A Fully-Performed Oral Contract That Should Have Been in Writing