Contracts
Which of the following is required for a Connecticut real estate contract to be 'in writing' under the Statute of Frauds?
AHandwritten only, in blue ink
BAny written or electronic document sufficient to identify the parties, property, terms, and the signatures of the parties✓ Correct
CTyped and notarized
DPrepared only by an attorney
Explanation
Connecticut's Statute of Frauds requires real estate contracts to be in writing and signed, but does not mandate any specific form. Electronic contracts meeting these requirements are also enforceable under UETA.
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Key Terms to Know
Purchase Agreement
A legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Earnest MoneyA 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.
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.
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