Contracts
In New York, real estate purchase contracts must be in writing to be enforceable under:
AThe Uniform Commercial Code (UCC)
BThe New York Statute of Frauds (General Obligations Law § 5-703)✓ Correct
CReal Property Law Article 12-A
DThe New York Electronic Signatures and Records Act only
Explanation
New York's Statute of Frauds, found in General Obligations Law § 5-703, requires contracts for the sale of real property (or any interest therein) to be in writing and signed by the party to be charged. Oral agreements to purchase real estate are unenforceable.
Related New York Contracts Questions
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