Question

5. Generally, must all agreements for the sale of real property be in writing?

Answer 1

Answer for number 5:

The bottom line is: Real estate contracts must always be in writing in order to be enforceable. While laws may vary from state to state, most states have a Statute of Frauds that applies. And in general, oral contracts are hard to prove and enforce, so it pays to have agreements in writing.

Answer for number 6:

Generally speaking, the UCC requires that any contract for the sale of goods with a price of $500 or more must be in writing.

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