What legal principle permits an unwritten lease that will be fully performed within one year?

The correct answer is rooted in the Statute of Frauds, which is a legal principle that requires certain contracts to be in writing to be enforceable. However, there are exceptions to this requirement, one of which pertains to leases. The Statute of Frauds typically applies to leases that extend beyond one year, necessitating a written agreement to ensure clarity and prevent disputes.

For leases that are fully performed within one year, the Statute of Frauds does not require a written format, allowing unwritten leases to be valid and enforceable as long as the agreement is able to be completed within that time frame. This principle facilitates flexibility in agreements that are short-term and decreases the burden of having to create formal written documentation for transient arrangements.

This context clarifies why the other options do not apply in this situation. The Legal Capacity Doctrine deals with the ability of parties to enter into a contract, the Doctrine of Consideration focuses on the exchange of value in contracts, and the Statute of Limitations pertains to the time frame in which legal actions can be brought. None of these specifically address the conditions under which unwritten leases are permissible, making the Statute of Frauds the relevant legal principle in this case.