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An oral agreement is unenforceable if, by its terms, it is not to be performed within one year after its formation. See McCrea & Co. Auctioneers, Inc. v. Dwyer Auto Body, 799 P.2d 394, 397 (Colo. App. 1990). 

Contracts that cannot be performed within one year need to be in writing. Any possibility of performance, no matter how unlikely, will take the contract out of the statute requirements. The one-year is measured from the date of formation not from the date of beginning performance. Under the prevailing interpretation, the enforceability of a contract under the one-year provision does not turn on the actual course of subsequent events, nor on the expectations of the parties as to the probabilities. Contracts of uncertain duration are simply excluded, and the provision covers only those contracts whose performance cannot possibly be completed within a year.  Leading treatises follow this general rule. It is well settled that the oral contracts invalidated by the Statute because they are not to be performed within a year include only those which cannot be performed within that period. 9 Samuel Williston, A Treatise on the Law of Contracts § 24:3 (West 1999). A promise ...

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