The crucial aspect to this question is to maintain a clear and consistent argument. It may be that you think there should be more formalities when entering into a contract. It may be that you think no formality requirements should be needed. Or a position in between. Whatever your position may be, you should explain clearly why certain formality requirements are needed, and what their drawbacks are (the Fuller article is also good on this). The quotation specifically concerns section 4 of the Statute of Frauds 1677, and you should discuss that and, ideally, set the quotation within the context of the decision in Actionstrength Ltd v International Glass Engineering SpA [2003] UKHL 17, [2003] 2 AC 541, but your answer should also cover section 2 of the Law of Property (Miscellaneous Provisions) Act 1989.
End-of-chapter questions: Answer Guidance 9.1
Contracts requiring writing