Contracts
What is the 'Statute of Frauds' and how does it apply to Idaho real estate contracts?
AA law preventing fraud in financial disclosures
BA law requiring certain contracts — including real estate purchase agreements — to be in writing and signed to be enforceable✓ Correct
CA federal law governing mortgage disclosures
DAn Idaho law requiring all contracts to be notarized
Explanation
The Statute of Frauds (Idaho Code §9-505) requires contracts for the sale of real property, leases longer than one year, and real estate commissions to be in writing and signed by the party to be charged. Oral real estate contracts are generally unenforceable in Idaho, with limited exceptions.
Related Idaho Contracts Questions
- What is an 'acceleration clause' in an Idaho deed of trust?
- A seller accepts a buyer's offer. The next day, before the buyer is notified, the seller gets a better offer. Can the seller accept the better offer?
- What is a 'notice of default' in Idaho deed of trust foreclosure?
- A contract for deed (land contract) in Idaho is a method of real estate financing where:
- In Idaho, an offer to purchase real estate becomes a binding contract when:
- A buyer submits an offer that includes an inspection contingency. After the inspection, the buyer requests $8,000 in repairs. The seller refuses and the buyer withdraws. What happens to the earnest money?
- What is 'substantial performance' in contract law and how does it apply to Idaho real estate?
- An offer to purchase real property becomes a binding contract when:
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →