What could be done to encourage parties to follow through on

What could be done to encourage parties to follow through on their commitments in an agreement If the statute of frauds didn\'t exists?

How does public policy affect the status of fraud?.

Solution

What could be done to encourage parties to follow through on their commitments in an agreement If the statute of frauds didn\'t exists?

How does public policy affect the status of fraud?.

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Answer :

Agreement Definition :

An arrangement that is accepted by all parties to a transaction.

or

The act of agreeing or of coming to a mutual arrangement.

When agreement is supported by legal obligation then it becomes contract.Now here important point is that agreement has to convert into contract. When its a contact then in that case the parties interest can be protected. In that case if the statute of frauds didn\'t exists still the interest of parties are protected .Because that is legally obliged.So its the prime responsibility of the parties involved to make a contract , that is beneficial from there point of view.

Public policy are very important in fraud prevention.

The main objective of public policy to help as a guidance or framework to public when they are facing a fraud problems.

Following are mentioned some of the public policy which help to public during fraud happening.

With above mentioned policies public can approach local , state ,central jurisdiction through above mentioned mechanism.

In most of the cases public become aware after fraud happening , for such cases the faster redressal system is there which help to resolve the issue at the earliest.

Its the duty of public to know about these policies .Through advertisement , IT tools these information made available everywhere.