Under NY Statute of Frauds, which scenario requires a writing?

Under NY Statute of Frauds, which scenario requires a writing?

• A. Lease of goods over 1k
• B. Promise to pay a discharged debt
• C. Finder's fee or broker commission
• D. Assignments of insurance policies

Answer: (D)

Under NY Statute of Frauds, contracts that involve transferring an interest in property or certain kinds of arrangements must be evidenced in writing to be enforceable. An assignment of an insurance policy fits this requirement because it is a transfer of rights in an intangible asset—the policy itself and the proceeds or ownership rights tied to it. To perfect and enforce the assignment, a written instrument is needed, ensuring clear proof of who holds the rights and what rights are being transferred, and protecting the insurer and the parties involved from disputes later on. The other scenarios don’t clearly trigger the writing requirement in the same way. Leases of goods become subject to a writing rule under the relevant goods-leasing provision only if the term is longer than one year (the problem statement’s price alone doesn’t settle that). A promise to pay a discharged debt typically isn’t the classic trigger unless it falls into the debt‑guaranty category and meets the usual writing standard. A finder’s fee or broker commission generally isn’t one of the Statute of Frauds categories unless tied to a real estate transaction or another situation that explicitly requires a writing.

Under NY Statute of Frauds, contracts that involve transferring an interest in property or certain kinds of arrangements must be evidenced in writing to be enforceable. An assignment of an insurance policy fits this requirement because it is a transfer of rights in an intangible asset—the policy itself and the proceeds or ownership rights tied to it. To perfect and enforce the assignment, a written instrument is needed, ensuring clear proof of who holds the rights and what rights are being transferred, and protecting the insurer and the parties involved from disputes later on.

The other scenarios don’t clearly trigger the writing requirement in the same way. Leases of goods become subject to a writing rule under the relevant goods-leasing provision only if the term is longer than one year (the problem statement’s price alone doesn’t settle that). A promise to pay a discharged debt typically isn’t the classic trigger unless it falls into the debt‑guaranty category and meets the usual writing standard. A finder’s fee or broker commission generally isn’t one of the Statute of Frauds categories unless tied to a real estate transaction or another situation that explicitly requires a writing.