What law states that if the total payments to be made under the lease, excluding payments for options to renew or buy, are $1,000 or more, the lease must be in writing?

Question

Quizplus · Accepted Answer

The Statute of Frauds requires certain types of contracts, including leases involving payments of $1,000 or more, to be in writing to be enforceable. This law is designed to prevent fraud and misunderstandings in significant transactions.

What Law States That If the Total Payments to Be