Statute of Frauds
1. Detailed written agreements and executive periods are often needed in real estate sales.
2. Requirement that agreements must be in writing signed by the party to be charged if the contracts are for more than one year (real estate or leases).
3. Listing agreements are subject to the S of F.
4. Need specific legal description of the property or specific means to identify the property – can refer to a map or deed.
5. Even if the S of F is not satisfied, purchaser can still rescind and recover her earnest money since that is not “enforcement” of the contract.
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