Problem
The Statute of Frauds requires contracts for the sale of very valuable goods (like real estate) to be in writing. Provide an economic rationale for this rule based on the trade-off between the cost of drafting contracts and the risk that transactions will not be completed due to opportunism or legal error.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.