Statute Of Frauds Flashcards
Contracts may either be _ or _
Written
Oral
May be problems enforcing contracts that aren’t
In writing
Most states have adopted, in some form or another, law known as _
The Statute of Frauds
Statute of frauds minimizes _ In certain types of transactions
Fraudulent behavior
Person buying/selling land cannot enforce contract of sale for land unless _
Contract is in writing
Written requirement for contracts in buy/sell land is to
Limit likelihood of fraud against buyer
Transactions that involve pledging _ of another for a transaction must be in writing
The credit
Agreement to _ must be in writing
Marry
Agreement to pay _ commissions must be in writing
Real estate brokerage
Agreements that cannot be _ must be written
Performed within a year
Agreements to lend _ must be in writing
Money
Agreement to extend _ 25k or more must be written
Credit
