Contracts
Under Nevada law, what makes an oral real estate contract generally unenforceable?
ANevada only requires contracts over $100,000 to be in writing
BThe Statute of Frauds requires contracts for the sale of real property to be in writing to be enforceable✓ Correct
COral contracts are valid in Nevada if witnessed by two adults
DOnly commercial real estate contracts require writing; residential oral agreements are enforceable
Explanation
The Statute of Frauds (codified in Nevada under NRS 111.220) requires contracts for the sale of real property to be in writing and signed by the party to be charged in order to be enforceable.
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