What legal principle requires that real estate contracts must be in writing to be enforceable?

The principle that mandates real estate contracts must be in writing to be enforceable is known as the Statute of Frauds. This legal doctrine aims to prevent fraud and perjury in contractual agreements by requiring certain types of contracts, including those related to the sale or transfer of real estate, to be documented in writing. The Statute of Frauds is established in various state laws and typically specifies that agreements involving the sale of real estate must be signed by the parties involved.

This requirement ensures that there is clear evidence of the terms and conditions agreed upon by the parties, which helps to mitigate disputes and misunderstandings. Overall, the Statute of Frauds is crucial in providing legal clarity and protecting the interests of all parties in real estate transactions.

The other options do not apply in this context: the Statute of Limitations pertains to the time period within which a legal action must be commenced, the Statute of Liabilities is not a recognized legal concept in this field, and the Statute of Contracts may refer to certain contractual principles but does not specifically mandate that real estate contracts be in writing.