Real Estate Exam [National] 38, Statute of Frauds Explained

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam. In this episode you will learn: • The critical distinction between a valid contract and an enforceable one under the Statute of Frauds. • The four essential elements required in a written real estate contract to satisfy legal standards. • How the one-year rule applies to verbal versus written leases. • Key exceptions to the writing requirement, including the doctrine of part performance and property improvements. • How to differentiate the Statute of Frauds from the Statute of Limitations to avoid common exam traps. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep