Contracts
Under the Statute of Frauds, which of the following real estate agreements may be enforceable even if oral?
AA purchase and sale agreement for residential property
BA lease of less than one year✓ Correct
CAn exclusive listing agreement
DAn option contract
Explanation
Under most states' Statute of Frauds, leases of less than one year may be enforced even if oral. Agreements to buy or sell real property and leases of one year or more must be in writing to be enforceable.
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