Some Characteristics of Formal Requirements for a Legal Transaction in American Law

Giorgi Amiranashvili

Abstract


The main features of the American regulation of form of transaction are given in the article, providing the opportunity to learn about the experience of legal system, different from continental Europe, in this area. The following issues are discussed in the work: historical and contemporary understanding of formalism; functions of form established by the law and agreed upon by the parties; the Statute of Frauds (1677) as the important regulatory Act of this field; and finally, original historical form of Deed and current functional purpose.

Keywords


form of transaction, function of the form, the Statute of frauds, deed.

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