Contracts
A North Dakota buyer makes a written offer and the seller verbally accepts. Is there a binding contract?
AYes, verbal acceptance creates a binding contract
BNo, the seller's acceptance must be in writing and communicated to the buyer to be binding under the Statute of Frauds✓ Correct
CYes, if the buyer had already toured the property
DIt depends on whether the buyer made an earnest money deposit
Explanation
Under the Statute of Frauds, real estate contracts must be in writing and signed by the parties to be enforceable. A verbal acceptance of a written offer does not create a binding real estate contract in North Dakota.
Related North Dakota Contracts Questions
- In North Dakota, which of the following is TRUE about consideration in a real estate contract?
- An option contract gives the optionee:
- A North Dakota buyer's offer contains a clause allowing them to cancel if their current home doesn't sell within 30 days. This is called a:
- Which type of listing agreement allows the seller to list with multiple brokers and only pay a commission to the one who produces a ready, willing, and able buyer?
- In North Dakota, the Seller's Disclosure Statement does NOT typically cover which of the following?
- An option contract on North Dakota farmland gives the optionee (potential buyer):
- What does 'time is of the essence' mean in a real estate contract?
- Which of the following is considered a 'material fact' that must be disclosed in a North Dakota real estate transaction?
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →