9-06 Formation of Contract

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CHAPTER 9-06FORMATION OF CONTRACT9-06-01.Express and implied contracts defined.A contract is either express orimplied. An express contract is one the terms of which are stated in words. An implied contract<br>is one the existence and terms of which are manifested by conduct.9-06-02. What contracts may be oral. All contracts may be oral except such as arespecially required by statute to be in writing.9-06-03. Written contract prevented by fraud - Oral contract enforceable. When acontract which is required by law to be in writing is prevented from being put into writing by the<br>fraud of a party thereto, any other party who by such fraud is led to believe that it is in writing and<br>acts upon such belief to that party's prejudice may enforce it against the fraudulent party.9-06-04.Contracts invalid unless in writing - Statute of frauds.The followingcontracts are invalid, unless the same or some note or memorandum thereof is in writing and<br>subscribed by the party to be charged, or by the party's agent:1.An agreement that by its terms is not to be performed within a year from the making<br>thereof.2.A special promise to answer for the debt, default, or miscarriage of another, except<br>in the cases provided for in section 22-01-05.3.An agreement for the leasing for a longer period than one year, or for the sale, of<br>real property, or of an interest therein. Such agreement, if made by an agent of the<br>party sought to be charged, is invalid unless the authority of the agent is in writing<br>subscribed by the party sought to be charged.4.An agreement or promise for the lending of money or the extension of credit in an<br>aggregate amount of twenty-five thousand dollars or greater.5.An agreement or promise to alter the terms of repayment or forgiveness of a debt<br>that is in an aggregate amount of twenty-five thousand dollars or greater.9-06-05. Contracts unenforceable unless in writing - Statute of frauds. Repealed byS.L. 1965, ch. 296,</div></article><aside class="right-sidebar"><div class="related-sidebar"><h3><span class="emoji">⚖️</span> State Laws</h3><ul class="state-laws-list"><li><a href="https://state-laws.laws.com/state-of-alabama">The State Laws of Alabama</a></li><li><a href="https://state-laws.laws.com/state-of-alaska">The State Laws of Alaska</a></li><li><a href="https://state-laws.laws.com/state-of-arizona">The State Laws of Arizona</a></li><li><a href="https://state-laws.laws.com/state-of-arkansas">The State Laws of Arkansas</a></li><li><a href="https://state-laws.laws.com/state-of-california">The State Laws of California</a></li><li><a href="https://state-laws.laws.com/state-of-colorado">The State Laws of Colorado</a></li><li><a href="https://state-laws.laws.com/state-of-connecticut">The State Laws of Connecticut</a></li><li><a href="https://state-laws.laws.com/state-of-delaware">The State Laws of Delaware</a></li><li><a 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height:815px; text-align:center;\"\u003eLoading PDF...\u003c/div\u003e\u003cscript type=\"text/javascript\"\u003e var pdf_url = 'https://law.justia.com/codes/north-dakota/2009/t09/pdf/t09c06.pdf'; $(document).ready(function() { var embedwindow = $(\"#embed_document\"); if ($.browser.msie){ embedwindow.html('\u003cembed src=\"'+pdf_url+'\" width=\"100%\" height=\"100%\"\u003e\u003c/embed\u003e'); } else { embedwindow.html('\u003ciframe style=\"width:100%; height:100%;\" src=\"https://docs.google.com/gview?url='+window.escape(pdf_url)+'\u0026embedded=true\" frameborder=\"0\"\u003e\u003c/iframe\u003e'); } });\u003c/script\u003e\u003cbr\u003e\u003cbr\u003e\u003cnoframes\u003eCHAPTER 9-06FORMATION OF CONTRACT9-06-01.Express and implied contracts defined.A contract is either express orimplied. 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