Milo borrows $125,000 from North State Bank to buy a home.To comply with the Statute of Frauds,the mortgage must be

Question

Quizplus · Accepted Answer

The Statute of Frauds requires certain contracts, including mortgages, to be in writing to be enforceable. Therefore, Milo's mortgage must be in writing, making option D the best choice. The other options do not necessarily apply, as the formalness of the document, the particular form, or the lender's format are not requirements of the Statute of Frauds.

Milo Borrows $125,000 from North State Bank to Buy a Home.To