An oral agreement for the sale of land is enforceable under the statute of frauds.

Oral Agreement

A verbal contract between parties that is legally binding, although harder to prove than a written agreement.

Statute of Frauds

A legal principle requiring certain types of contracts to be written and signed to be legally enforceable.

Sale of Land

A legal transaction involving the transfer of ownership of land from one party to another in exchange for a price paid or to be paid.

Gain an understanding of the legal binding nature of real estate agreements, with an emphasis on the statute of frauds.

Verified Answer

Final Answer :

False

Explanation :

The Statute of Frauds requires that contracts for the sale of land must be in writing to be enforceable, to prevent fraud and misunderstandings.

Learning Objectives

Gain an understanding of the legal binding nature of real estate agreements, with an emphasis on the statute of frauds.