Contracts
A Minnesota buyer and seller reach an oral agreement on all terms of a home purchase. Under the statute of frauds, this oral contract for sale of real property is:
AFully enforceable since both parties agreed
BUnenforceable since contracts for real property must be in writing to be enforceable✓ Correct
CEnforceable only for properties under $10,000
DEnforceable if two witnesses can testify to the agreement
Explanation
Minnesota's statute of frauds requires contracts for the sale or purchase of real property to be in writing and signed by the party to be charged. An oral real estate purchase contract is generally unenforceable.
Related Minnesota Contracts Questions
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