Contracts
A law requiring certain contracts, including real estate sales contracts to be in writing to be enforceable.
The Statute of Frauds requires contracts for the sale of real property to be in writing and signed by the party to be charged. In New York, this includes real estate sales contracts, leases for more than one year, and listing agreements. An oral agreement to sell real estate is generally unenforceable. The writing must contain essential terms: parties, property description, price, and conditions.
Exam Tip
Oral agreements to sell real estate = unenforceable. This also applies to listing agreements in NY.
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Contracts
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NY Real Estate Contracts
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