A Massachusetts real estate salesperson is advising her client on which agreements must satisfy the Statute of Frauds writing requirement under MGL Chapter 259, Section 1. Which of the following is NOT required to be in writing to be legally enforceable under the Massachusetts Statute of Frauds?
Correct Answer
D) An oral month-to-month tenancy agreement for a term not exceeding one year
Under MGL Chapter 259, Section 1, a month-to-month tenancy or any lease with a term not exceeding one year does NOT need to be in writing to be enforceable. Massachusetts law only requires leases exceeding one year to satisfy the Statute of Frauds writing requirement. A short-term oral tenancy arrangement is legally valid and enforceable without a written agreement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A financing contingency makes the purchase contract conditional upon the buyer obtaining mortgage approval within a specified time period. If the buyer cannot secure financing, they can cancel the contract and receive their earnest money back.
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.
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