ContractsGeneralEASY
Under Illinois law, a real estate contract must include:
Correct Answer
C) Written agreement with essential terms
Illinois follows the Statute of Frauds, requiring real estate contracts to be in writing with essential terms (parties, property description, price, terms) and signed by the parties.
Answer Options
A
Verbal agreement from both partiesB
The signatures of witnessesC
Written agreement with essential termsD
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Related Topics & Key Terms
Related Topics:
statute-of-fraudscontract-formationessential-terms
Key Terms:
Statute of Frauds740 ILCS 80/2essential termswritten contractreal estate contract Illinois
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