Many state Statutes of Frauds require that agents' contracts to sell real property covered by the Statute of Frauds be in writing to be enforceable.The requirements is often referred to as the ________ rule
A) perfect parity
B) equal parity
C) due diligence
D) equal dignity
E) perfect dignity

Question

Quizplus · Accepted Answer

The requirement that agents' contracts to sell real property covered by the Statute of Frauds be in writing to be enforceable is known as the equal dignity rule. The term "equal dignity" refers to the idea that the written authorization given by the principal to the agent must be of the same level of formality as the contract that the agent is authorized to sign on behalf of the principal. In other words, if the contract for the sale of the property must be in writing to be enforceable (as is the case under many Statutes of Frauds), then the authorization given to the agent to sign the contract on behalf of the principal must also be in writing.

Many State Statutes of Frauds Require That Agents' Contracts to Sell