New Jersey Real Estate Practice Exam Free Practice Question
The primary intent of the statute of frauds is to
Correct Answer: A
Rationale: The primary intent of the statute of frauds is to reduce real estate contracts to writing, ensuring clarity and preventing misunderstandings in significant transactions.
Option B is incorrect as the statute does not specifically protect licensees from fraud; rather, it focuses on the validity of contracts. Option C misinterprets the statute, which actually mandates that certain agreements, including those lasting over one year, must be in writing to be enforceable. Option D is also inaccurate, as the statute does not specifically address the rights of buyers with disabilities, but rather the formalities of contract creation.
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