What information is essential for compliance with the Statute of Frauds?

The essential information for compliance with the Statute of Frauds includes the names of the parties involved and the terms of the contract. The purpose of the Statute of Frauds is to prevent fraudulent claims and ensures that certain types of contracts are in writing to be enforceable. Specifically, for contracts concerning the sale of real estate, having the names of the parties involved clearly identified helps establish who is obligated under the agreement. Similarly, specifying the terms of the contract provides clarity about what is being agreed upon, including details like the price, property description, and conditions of sale. This written documentation serves as a safeguard for all parties against disputes that may arise regarding the contract's existence or its stipulations.

In this context, while details about witnesses, market values, or historical sales might be relevant in different scenarios, they do not fulfill the requirements set forth by the Statute of Frauds regarding what must be included in a written contract for it to be enforceable.