Which statement regarding the statute of frauds is false?

The statement regarding the statute of frauds that is false is that actions based on contracts can be pursued indefinitely. Under the statute of frauds, certain contracts must be in writing to be enforceable, which includes those related to real estate, contracts that cannot be performed within one year, and agreements involving the sale of goods above a specified value. However, there are also statutes of limitations that apply to contracts, which specify the maximum time period during which legal action can be initiated for breach of contract.

These limitations vary by state and the type of contract but generally range from a few years to a decade. This means that parties to a contract do not have unlimited time to bring a lawsuit; instead, they must do so within the time frame established by law. Therefore, the notion that actions based on contracts can be pursued indefinitely is incorrect and does not align with legal principles.

In contrast, it's accurate that all contracts need sufficient consideration to be enforceable, actions for specific performance do not apply to personal services due to public policy, and many contracts indeed must be in writing as specified by the statute of frauds.