Practice Quiz

Florida Real Estate Exam

Category - Florida

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A contract according to the “Statute of Frauds” must be in writing to be enforceable to:

  1. Employ a real estate broker to sell stock, fixtures and good will of a business
  2. Employ a real estate broker to negotiate a lease for a one year term
  3. Employ a real estate broker to exchange one year leases on properties zoned for retail business
  4. Handle any agreement not to be performed within one year
Explanation
Answer D - An agreement to perform an act that cannot be fully performed within one year from the date of the making of the agreement must be in writing to be enforceable. Though the agreement may be valid, because it was not in writing it would be unenforceable in a court of law. Stock, fixtures and goodwill are personal property, and a verbal agreement may be used to employ the agent.

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