Contracts
Under Kentucky law, can verbal authorization from a seller's spouse create a binding contract to sell real property?
AYes, if the selling price is agreed upon verbally
BNo, the Statute of Frauds requires a written, signed agreement to sell real property✓ Correct
CYes, if two witnesses are present
DYes, as long as it is before a notary
Explanation
Under the Statute of Frauds, a contract to sell real property must be in writing and signed by the party to be charged. Verbal authorization is not sufficient.
People Also Study
Related Kentucky Questions
- In Kentucky, a lease for more than one year must be in writing under the Statute of Frauds. A verbal lease for 18 months is:Contracts
- In Kentucky, the Statute of Frauds requires that contracts for the sale of real estate must be:Contracts
- Under Kentucky law, a real estate sales contract for the sale of real property must be in writing to be enforceable under the:Contracts
- An offer to purchase real property in Kentucky becomes a binding contract when:Contracts
- Kentucky's doctrine of equitable conversion holds that once a real estate contract is signed:Property Ownership
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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
Study This Topic
Practice More Kentucky Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Kentucky Quiz →