Contracts
Under Oklahoma contract law, what is required for a real estate purchase contract to be enforceable?
AOnly verbal agreement between parties
BWritten agreement signed by all parties✓ Correct
CNotarized agreement with witnesses
DAgreement filed with the county clerk
Explanation
Under Oklahoma's Statute of Frauds, contracts for the sale of real property must be in writing and signed by the parties to be enforceable. Verbal agreements for real estate are generally not enforceable.
Related Oklahoma Contracts Questions
- Which of the following is an example of a unilateral contract in real estate?
- In an Oklahoma real estate purchase contract, a financing contingency protects the buyer by:
- In Oklahoma, a power of attorney authorizing someone to execute real estate contracts or deeds on behalf of another must be:
- In Oklahoma, specific performance as a remedy in a real estate contract breach means:
- In Oklahoma, a purchase contract becomes 'fully executed' when:
- Oklahoma uses a standard residential purchase contract that typically includes a seller's property condition disclosure. This disclosure requirement is based on:
- When an Oklahoma seller makes a counteroffer in response to a buyer's offer, which statement is true?
- In Oklahoma, a contract for deed (land contract or installment sale) is a form of seller financing where:
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