Utah § 25-5-4 - Certain agreements void unless written and signed.
Full text of Utah Utah Code § 25-5-4 — Certain agreements void unless written and signed., with citation guidance and answers to common questions.
§ 25-5-4. Certain agreements void unless written and signed.
25-5-4.
Certain agreements void unless written and signed.
(1)
The following agreements are void unless the agreement, or some note or memorandum of the agreement, is in writing, signed by the party to be charged with the agreement:
(a)
every agreement that by its terms is not to be performed within one year from the making of the agreement;
(b)
every promise to answer for the debt, default, or miscarriage of another;
(c)
every agreement, promise, or undertaking made upon consideration of marriage, except mutual promises to marry;
(d)
every special promise made by an executor or administrator to answer in damages for the liabilities, or to pay the debts, of the testator or intestate out of his own estate;
(e)
every agreement authorizing or employing an agent or broker to purchase or sell real estate for compensation; and
(f)
every credit agreement.
(2)
(a)
As used in Subsection (1)(f) and this Subsection (2):
(i)
(A)
"Credit agreement" means an agreement by a financial institution to:
(I)
lend, delay, or otherwise modify an obligation to repay money, goods, or things in action;
(II)
otherwise extend credit; or
(III)
make any other financial accommodation.
(B)
"Credit agreement" does not include the usual and customary agreements related to deposit accounts or overdrafts or other terms associated with deposit accounts or overdrafts.
(ii)
"Creditor" means a financial institution which extends credit or extends a financial accommodation under a credit agreement with a debtor.
(iii)
"Debtor" means a person who seeks or obtains credit, or seeks or receives a financial accommodation, under a credit agreement with a financial institution.
(iv)
"Financial institution" means:
(A)
a state or federally chartered:
(I)
bank;
(II)
savings and loan association;
(III)
savings bank;
(IV)
industrial bank; or
(V)
credit union; or
(B)
any other institution under the jurisdiction of the commissioner of Financial Institutions as provided in Title 7, Financial Institutions Act.
(b)
(i)
Except as provided in Subsection (2)(e), a debtor or a creditor may not maintain an action on a credit agreement unless the agreement:
(A)
is in writing;
(B)
expresses consideration;
(C)
sets forth the relevant terms and conditions; and
(D)
is signed by the party against whom enforcement of the agreement would be sought.
(ii)
For purposes of this act, a signed application constitutes a signed agreement, if the creditor does not customarily obtain an additional signed agreement from the debtor when granting the application.
(c)
The following actions do not give rise to a claim that a credit agreement is created, unless the agreement satisfies the requirements of Subsection (2)(b):
(i)
the rendering of financial advice by a creditor to a debtor;
(ii)
the consultation by a creditor with a debtor; or
(iii)
the creation for any purpose between a creditor and a debtor of fiduciary or other business relationships.
(d)
Each credit agreement shall contain a clearly stated typewritten or printed provision giving notice to the debtor that the written agreement is a final expression of the agreement between the creditor and debtor and the written agreement may not be contradicted by evidence of any alleged oral agreement. The provision does not have to be on the promissory note or other evidence of indebtedness that is tied to the credit agreement.
(e)
A credit agreement is binding and enforceable without any signature by the party to be charged if:
(i)
the debtor is provided with a written copy of the terms of the agreement;
(ii)
the agreement provides that any use of the credit offered shall constitute acceptance of those terms; and
(iii)
after the debtor receives the agreement, the debtor, or a person authorized by the debtor, requests funds pursuant to the credit agreement or otherwise uses the credit offered.
Section 25-5-4 ("Certain agreements void unless written and signed.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 25-5-4?
A common citation format is "Utah Code § 25-5-4" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 25-5-4 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
