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 West Virginia, the statute of frauds is codified under the West Virginia Code, which requires certain types of contracts to be in writing to be enforceable. These typically include contracts for the sale or transfer of real estate, contracts that cannot be completed within one year, and contracts for the sale of goods priced at $500 or more, aligning with the Uniform Commercial Code (UCC). Additionally, loan agreements above a specified amount, prenuptial agreements, and agreements where one party promises to pay another's debt also fall under the statute of frauds in West Virginia. The purpose of these requirements is to prevent fraudulent claims and misunderstandings about the terms of the agreement, ensuring that there is clear and reliable evidence of the contract's terms. It's important to note that while these requirements provide a general rule, there may be exceptions and specific applications of the law that can vary based on the circumstances of each case. An attorney can provide detailed advice on how the statute of frauds might apply to a particular agreement in West Virginia.