We first extend the Arens-Royden theorem to unital, commutative Frechet algebras under certain conditions. Then, we show that if A is a uniform Frechet algebra on X=MA, where MA is the continuous character space of A, then A does not have dense invertible group, if we impose some conditions on X. On the other hand, if A has dense invertible group, then it is shown that A=C (X), with certain conditions on X. Thus, the results of Dawson and Feinstein on denseness of the invertible group in Banach algebras are extended to uniform Frechet algebras.