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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Related Topics & Key Terms
Key Terms:
Related Concepts
An inspection contingency gives the buyer the right to have the property professionally inspected within a specified time frame and to negotiate repairs or cancel the contract based on the findings.
Liquidated damages are a predetermined amount of money specified in the contract that the non-breaching party is entitled to receive if the other party breaches. In real estate, the earnest money deposit typically serves as liquidated damages.
Novation is the substitution of a new contract for an existing one, or the replacement of one party with a new party, with the consent of all parties involved. The original party is completely released from all obligations.
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