What law mandates that contracts for the sale of land for over a year must be in writing?

The correct answer is the Statute of Frauds, which is a legal concept that requires certain types of contracts to be in writing to be enforceable. Specifically, the Statute of Frauds mandates that contracts for the sale of land or any interest in real estate that cannot be completed within one year must be documented in writing. This is designed to prevent fraud and misunderstandings that can arise from verbal agreements in significant transactions like real estate sales.

The rationale behind this law is to provide clear evidence of the agreement's terms and to protect parties from dishonest claims. Additionally, it helps ensure that both parties have a mutual understanding of their obligations and rights regarding the transaction.

In contrast, other options like the Parole Evidence Rule pertain to the admissibility of oral statements in interpreting written contracts, while the Uniform Commercial Code mostly governs commercial transactions, and the Real Estate Settlement Procedures Act focuses on disclosures and practices in real estate settlements rather than enforcing contract formalities. Therefore, the Statute of Frauds is the appropriate law that specifically addresses the requirement for real estate contracts to be in writing when the transaction exceeds one year.