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Is an unwritten long-term agreement inherently unenforceable in NY?


People often - mistakenly - assume that an unwritten long-term agreement is automatically unenforceable under New York law. In truth, there are circumstances where such an agreement may be enforceable, such as where the contract could - at least theoretically - be performed within one year, thereby taking the agreement outside the prohibitive ambit of the Statute of Frauds. For additional information on this topic, please see "Why New York's Statute of Frauds Doesn't Bar All Unwritten Long-Term Contracts."