Question 50

Single-party listings cannot fall under the Statute of Frauds.

Single-party listings are exempt from the Statute of Frauds, which typically requires certain contracts to be in writing to be enforceable. This means that such listings are valid and binding without needing to meet the usual formalities.

A) Should have no holdover provision

This option is incorrect because the presence or absence of a holdover provision does not directly relate to whether single-party listings fall under the Statute of Frauds. Holdover provisions pertain to lease agreements and their terms, which is not the focus of the Statute of Frauds in this context.

B) Do not require disclosure

This option is also incorrect. While single-party listings may not require the same level of disclosure as other types of listings, this does not speak to their relation to the Statute of Frauds. Disclosure requirements are governed by different legal principles and regulations.

C) Need no contract to perform

This statement is misleading. While it is true that single-party listings may not require a formal written contract under the Statute of Frauds, they still necessitate some form of agreement to outline the terms of the listing. Therefore, saying they "need no contract to perform" is an oversimplification.

D) Cannot fall under the Statute of Frauds

This option is correct because single-party listings do not require a written contract or formalities typically mandated by the Statute of Frauds. This exemption allows them to be enforceable without the usual constraints, providing flexibility in real estate transactions.

Conclusion

The correct answer is option D, as it accurately reflects the legal standing of single-party listings concerning the Statute of Frauds. Options A, B, and C fail to address the core legal principle governing the enforceability of such listings, while D clearly states their exemption from needing written contracts, thus confirming its correctness.