BUS311_chapter_05

If sarah quits after six months and takes her

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: cerns real estate in and of itself does not mean that it must be in writing; only contracts that create an interest in realty fall within this section of the statute of frauds. A contract to lease an apartment for a period of less than one year, for example, need not be in writing in order to be enforceable; although a lease obviously concerns itself with real estate, it does not create an ownership interest in realty, and therefore need not be in writing to be enforceable. If the lease runs for one year or more, however, it does need to be in writing—not because it transfers an interest in real estate, but because it is a contract that cannot be performed within one year and is covered by the statute of frauds for that reason as previously discussed. A contract for sale of a house must be in writing under the statute of frauds. Comstock/Thinkstock Common examples of contracts that must be in writing because they are deemed to create an interest in realty include the following: 1. Contracts for the sale of real estate 2. Express easements, or right-of-ways across anotherâ...
View Full Document

This test prep was uploaded on 04/09/2014 for the course BUS 311 taught by Professor Parker during the Spring '10 term at Ashford University.

Ask a homework question - tutors are online