Chapter 6 The Statute of Frauds and Other Writing Requirements

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1 Chapter 6 The Statute of Frauds and Other Writing Requirements The Statute of Frauds in General Contracts for the Sale of Goods Application to Contracts for the Sale of Land or Interests in Land Contracts Not to Be Performed within One Year The Contents of the Statute of Frauds Memorandum Property Descriptions Metes and Bounds Lot and Block Condominium

Interests in Land Contracts Not to Be Performed within One Year The Contents of the

2 Timeshares Part Performance Exception Other Writing Requirements Commission Agreements Independent Contractor Agreements

3 1. The Statute of Frauds states that: Sample Test Questions Chapter 6 a. contracts for the sale of goods of $1, or more must be in writing. *b. contracts for the sale of a 1/3 mineral interest must be in writing. c. a listing agreement must be in writing. d. an employment agreement must be in writing. e. All of the above. 2. For a contract for the purchase and sale of land to be enforceable in a court of law, a. the contract must be in writing. b. the contract must be supported by consideration. c. the contract must be executed in triplicate. d. the contract must be recorded. *e. a and b only. 3. An oral lease between a landlord and a tenant for a 2-year tenancy is: a. valid. b. void. c. illegal. *d. unenforceable. e. voidable. 4. The underlying purpose of the Statute of Frauds is: a. to protect the consumer exclusively. b. to protect the real estate broker exclusively. *c. to prevent fraud and perjury as to the actual terms of a contract. d. no longer important in Texas real estate transactions. e. All of the above. 5. A written instrument which may be used by the parties to a real estate contract to transfer title to personal property from the seller to the purchaser is referred to as a(n): a. Addendum for Second or Backup Contract. b. Residential Sales Contract. c. Bill of Sale. d. Non-realty Items Addendum in all transactions but FHA. *e. Either c or d.

For a contract for the purchase and sale of land to be enforceable in a court of law, a. the contract must be in writing. b. the contract must be supported by consideration. c. the contract must be executed in triplicate.

4 6. Legal property descriptions in Texas would include all of the following except: a. a metes and bounds description. b. a recorded plat which indicates a lot and block description. c. a properly recorded condominium description. *d. a street address. e. a properly recorded townhouse description. 7. All of the following are elements of the part performance exception to the Statute of Frauds in Texas except: a. there was an oral agreement b. the purchaser took possession of the premises *c. the oral agreement was subsequently reduced to writing d. the purchaser made permanent and valuable improvements on the property e. partial consideration was paid 8. The elements of the Statute of Frauds memorandum would include: a. a writing, signed by the party to be charged, an adequate property description, and the price of the property. b. a writing signed by the party to be charged and an adequate property description. c. a writing signed by the party to be charged, the price of the property, and a date for performance of the contract. d. a writing signed by the party to be charged. *e. a writing signed by the party to be charged, an adequate property description, the price of the property, and a date for performance of the contract. 9. In 2006 in Texas, Jason Clark, a single man, conveyed his one acre property with a triple wide mobile home located in an urban area at Lot 4, Block 10 in the South Subdivision by warranty deed to Angela and William Smith. What is the type of property description used to describe Jason Clark s property? a. metes and bounds b. rectangular survey system *c. lot and block d. address e. condominium 10. In 2004 in Texas, Robert and Mary Jones, a married couple, conveyed their property located in Kennedy County by warranty deed to Alex Clark, a single man. The description of the property is acres out of land being approximately 0.3 acres out of the George Jones Survey No. 5, Abstract 100 and acres out of the Frank Smith Survey No. 6, Abstract 200 Kennedy County

All of the following are elements of the part performance exception to the Statute of Frauds in Texas except: a. there was an oral agreement b. the purchaser took possession of the premises *c.

5 Texas described in Vol. 110, Page 60 of the Deed Records of Kennedy County Texas, said tract is more particularly described in Exhibit A. What is the type of property description used to describe the Jones property? *a. metes and bounds b. rectangular survey system c. lot and block d. address e. condominium

63-Hour Sales Associate Pre-License Course Course Outline and Time Line

63-Hour Sales Associate Pre-License Course Course Outline and Time Line The following detailed course outline is based on 63 one classroom hour sessions consisting of 50 minutes each. Time Detailed Course