Under Connecticut law, a purchase and sale agreement for residential real property is legally enforceable only if it meets which of the following requirements?
Correct Answer
B) It must be in writing and signed by the party to be charged
Under Connecticut's Statute of Frauds (CGS § 52-550), contracts for the sale of real property must be in writing and signed by the party against whom enforcement is sought. This is the foundational requirement for an enforceable real estate purchase agreement in Connecticut.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A breach of contract occurs when one party fails to perform their obligations under the contract without a legal excuse. The non-breaching party is entitled to legal remedies including damages, specific performance, or contract rescission.
Consideration is something of value exchanged between parties to a contract, making the agreement legally binding. It can be money, a promise to act, a promise to refrain from acting, or anything else of value.
Contingencies are conditions written into a real estate contract that must be met before the transaction can close. If a contingency is not satisfied, the buyer can typically cancel the contract without penalty.
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