The Statute of Frauds requires that real estate contracts in Montana must be:
Correct Answer
B) In writing and signed by the parties to be charged
The Statute of Frauds requires that contracts for the sale of real estate must be in writing and signed by the party to be charged (i.e., the party against whom enforcement is sought) in order to be enforceable. This applies in Montana as in all U.S. states. Witnesses, attorney preparation, and court filing are not required by the Statute of Frauds.
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Related Topics & Key Terms
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Related Concepts
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.
Contract termination occurs when a contract is ended or discharged, releasing both parties from their obligations. A contract can be terminated through performance, mutual agreement, operation of law, or breach.
A counteroffer is a response to an original offer that changes one or more terms of the offer, effectively rejecting the original offer and creating a new offer. The party who makes the counteroffer becomes the new offeror.
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