GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Statute of Frauds

Legal concept that holds no suit or action shall be maintained on certain classes of contracts or engagements unless there is a note or memorandum in writing, signed by the parties, describing the performance of obligations of the parties. This concept began with a 1677 English law that has been adopted in modified form in virtually every state in the U.S.

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Approved for 1 Hour of State Reported CE Credit in AR, AZ, CA, DE, CO, FL, GA, IA, IL, IN, KS, KY, LA MA, MD, MI, MO, MN, NC, NE, NJ, NY, OH, OK, OR, PA, PR, SC, TN, TX, UT, WA and WI