What are the two requirements under Common Law Satisfactory Writing for SoF?

What are the two requirements under Common Law Satisfactory Writing for SoF?

• A. All material terms and signed by ∆
• B. Price and parties
• C. Date and witnesses
• D. Sealed and not required

Answer: (A)

Under the Statute of Frauds, a common-law satisfactory writing must do two things: it shows there was a contract by memorializing its essentials, and it binds the party against whom enforcement is sought. Specifically, the writing must include all material terms so the agreement is identifiable and its key details—who is involved, what is promised, price, and timing—are clear. It also must be signed by the party to be charged, giving evidence of intent to be bound and providing authentication of the agreement. This combination ensures the writing is both informative enough to indicate the contract existed and legally binding on the responsible party. The other options don’t fit because they miss one or both of these requirements—the mere price or parties without the full essential terms isn’t enough, and date, witnesses, or seals do not capture the core two elements required.

Under the Statute of Frauds, a common-law satisfactory writing must do two things: it shows there was a contract by memorializing its essentials, and it binds the party against whom enforcement is sought. Specifically, the writing must include all material terms so the agreement is identifiable and its key details—who is involved, what is promised, price, and timing—are clear. It also must be signed by the party to be charged, giving evidence of intent to be bound and providing authentication of the agreement. This combination ensures the writing is both informative enough to indicate the contract existed and legally binding on the responsible party. The other options don’t fit because they miss one or both of these requirements—the mere price or parties without the full essential terms isn’t enough, and date, witnesses, or seals do not capture the core two elements required.