Brent loans Manuel $1,600 on his oral promise to repay the loan in three annual installments.Most courts would hold Manuel's promise is unenforceable under the one-year provision of the statute of frauds.

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The one-year provision of the statute of frauds typically applies to contracts that cannot be performed within one year from the date of agreement. Since Manuel's promise involves repayment in three annual installments, it is a contract that is meant to be performed over a period longer than a year. However, the statute of frauds primarily concerns the requirement for certain contracts to be in writing to be enforceable. In this case, the focus is on whether an oral promise to repay a loan falls under the statute's requirements. The statute of frauds does require certain types of contracts to be in writing, such as those involving the sale of real estate or contracts that cannot be performed within a year, but it does not universally render all oral contracts unenforceable. Courts may consider other factors such as partial performance, admissions in court, or promissory estoppel. Therefore, the enforceability of Manuel's promise would not solely hinge on the one-year provision but also on the nature of the agreement and other relevant legal principles.

Brent Loans Manuel $1,600 on His Oral Promise to Repay