ContractsIntermediateAlaska Exam

Under Alaska law, an oral lease agreement for a term exceeding one year is:

ASimply fully enforceable so long as it is witnessed, when in fact Alaska's Statute of Frauds actually requires a signed writing regardless of witnesses for a lease exceeding one year

BUnenforceable under the Statute of FraudsCorrect

CValid only if the tenant takes possession

DEnforceable only against the landlord

Why Unenforceable under the Statute of Frauds Is Correct

Answer B: Unenforceable under the Statute of Frauds

The Statute of Frauds requires leases for more than one year to be in writing to be enforceable. An oral lease for a term exceeding one year is unenforceable in Alaska even if both parties agreed to its terms verbally.

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.