Executory: still being performed; Executed: fully performed
Before you read
Test yourself first: 5 questions
Question 1 of 5
Under the statute of frauds, a contract for the sale of real estate is generally enforceable only if it is:
Answer: B. The statute of frauds requires real-estate sale contracts to be in writing and signed to be enforceable.
Question 2 of 5
Which situation results in an UNENFORCEABLE (rather than void or voidable) contract?
Answer: B. An oral land-sale agreement violates the statute of frauds: possibly valid between honest parties, but a court won't enforce it. Illegal purpose = VOID; minor or duress = VOIDABLE.
Question 3 of 5
The statute of frauds requires that contracts for the sale of real estate be:
Answer: B. Under the statute of frauds, contracts for the sale of real estate must be in writing and signed by the party to be charged in order to be enforceable in court.
Question 4 of 5
Which of the following contracts is most likely to fall under the statute of frauds and therefore require a writing to be enforceable?
Answer: B. Leases that cannot be performed within one year and contracts for an interest in real property typically fall under the statute of frauds and must be in writing.
Question 5 of 5
A seller verbally agrees to sell a parcel of land to a buyer, and they shake hands but never put anything in writing. With respect to enforcement, this agreement is:
Answer: B. Because the statute of frauds requires real estate sales contracts to be in writing, a purely oral agreement to sell land is generally unenforceable in court.
Keep the streak going with more questions like these, each with a full rationale.
Must-know rules
- Real estate sale contracts must be in WRITING to be enforceable (leases ≤1 yr often exempt)
- Executory: still being performed; Executed: fully performed
- 'Time is of the essence' = deadlines are strict — missing one is breach
- Parol evidence: prior oral promises can't contradict the final written deal
- Oral contract for land? Valid between the parties maybe — but unenforceable in court
Statute of Frauds & Performance: FAQs
Is Statute of Frauds & Performance on the real estate exam?
Yes. Contracts & Transfer of Title is a scored domain on the real estate licensing exam, and this topic appears in the national portion.
Is this cheat sheet free?
Yes — every page on Cinna RE's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.
