Asked by Maria Alanis on May 28, 2024
Verified
In most states, statutes mandate that leases exceeding ______in duration must be in writing.
A) three months
B) six months
C) one year
D) two years
Statutes
Statutes are laws that have been enacted by a legislative body, such as a parliament or congress.
Leases
Legal agreements in which one party grants another the right to use a property, vehicle, or piece of equipment for a specified period in exchange for payment.
Duration
The measure of the length of time that an event lasts or a condition persists.
- Recognize the legal requirements for contracts related to real estate transactions.
Verified Answer
GK
Gunveen KohliMay 31, 2024
Final Answer :
C
Explanation :
In most states, statutes following the Statute of Frauds require that leases exceeding one year in duration must be in writing to be enforceable. This is to ensure clarity and proof of the agreement's terms.
Learning Objectives
- Recognize the legal requirements for contracts related to real estate transactions.