A lease agreement for commercial property in Alabama exceeding one year must be:
Why In writing and signed by the parties to be enforceable Is Correct
Answer B: In writing and signed by the parties to be enforceable
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
People Also Study
Related Alabama Questions
- In Alabama, a lease for more than one year must be in writing to be enforceable under the:Property Management
- Under Alabama law, contracts for the purchase of real estate must be in writing to be enforceable. This rule is known as the:Contracts
- Under Alabama law, a purchase contract for real property must be in writing to be enforceable under:Contracts
- Under Alabama's Statute of Frauds, real estate sales contracts must be:Contracts
- In Alabama, the Statute of Frauds requires that real estate contracts be:Contracts
- An individual who negotiates leases of commercial properties for others for compensation in Alabama must have:Alabama License Law
- In Alabama, a residential lease for more than one year must be:Property Management
- A commercial property leases 10,000 sq ft at $18 per sq ft per year. What is the annual base rent?Real Estate Math
Key Terms to Know
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
State-Specific Concepts
Study This Topic
Practice More Alabama Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alabama Quiz →