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Pass California

Contracts, 12% of the examination

Statute of frauds

The rule requiring certain contracts to be in writing to be enforceable.

In real estate it covers any contract transferring an interest in real property, any lease for more than one year, and any agreement authorising a broker to buy or sell real property for compensation. An oral listing may still create agency duties, so the agent owes the seller fiduciary obligations, but it will not support a lawsuit for the fee.

See also

Void and voidableA void contract never had legal effect. A voidable contract is valid until the party with the power to escape elects to disaffirm it.

See it in a question

One question from Contracts, so the term lands in the context the exam uses it in.

Contracts ยท 12%Offers/Purchase Contracts

A seller receives an offer and returns it signed, having changed the closing date. What has the seller legally done?

Written to DRE's published topic list. Not a real examination question, since reproducing those is a misdemeanour under B&P Code section 123.

Where this is tested

ContractsFormation, listing agreements, buyer representation agreements, offers, options, and the advance fee rules that are distinctly Californian.12%Practise Contracts24 questions on this area, every option explained.Practice

Other terms in this area