Contracts II

One-Year Provision


  1. The following classes of contracts are subject to . . . . the Statute of Frauds, forbidding enforcement unless there is a written memorandum . . .
    1. a contract that is not to be performed within one year from the making thereof (the one-year provision).
Restatement Second of Contracts § 130

Contract Not to Be Performed Within a Year

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  1. Where any promise in a contract cannot be fully performed within a year from the time the contract is made, all promises in the contract are within the Statute of Frauds until one party to the contract completes his performance.
  2. When one party to a contract has completed his performance, the one-year provision of the Statute does not prevent enforcement of the promises of other parties.