Under California's Statute of Frauds (Civil Code §1624), several types of agreements must be in writing to be enforceable. Which of the following agreements does NOT need to be in writing under California's Statute of Frauds?
Correct Answer
C) A lease agreement for a residential apartment with a term of 10 months
Under California Civil Code §1624, leases for a term of one year or less do not need to be in writing to be enforceable. A 10-month lease falls within this exception and can be enforceable even if made verbally.
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Previous Question
A buyer submits a written offer to purchase a property, stating the offer expires at 5:00 PM on Friday. At 3:00 PM on Friday, the buyer's agent communicates to the seller's agent that the buyer is revoking the offer. At 4:30 PM, the seller signs the acceptance and the seller's agent delivers it to the buyer's agent. Under California law, is there a valid contract?
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A homeowner in Fresno receives an offer to purchase his property. The prospective buyer pays the homeowner $5,000 in exchange for the homeowner's promise to keep the offer open and irrevocable for 30 days while the buyer arranges financing. Under California law, what type of agreement has been created?