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Contract Law

Professional Bull Riders v. Autozone

The final case in this section involves Colorado's "one-year" statute of frauds. That statute provides as follows:

Colorado Revised Statutes 38-10-112

(1) Except for contracts for the sale of goods ... and lease contracts ..., in the following cases every agreement shall be void, unless such agreement or some note or memorandum thereof is in writing and subscribed by the party charged therewith:

     (a) Every agreement that by the terms is not to be performed within one year after the making thereof.

 

Again, what agreements "fall within" this statute?

And, what are the requirements of the statute?

What is the result if the requirements are not satisfied?