Question

Sable and Rex agree while talking on the phone to form a partnership—The Home Source—to deal in transfers of real property. To be enforceable, their agreement must

a. be filed in the appropriate state office.
b. be in writing.
c. involve the exchange of valid consideration.
d. not involve a third party.

Answer 1

In order to be enforceable, Sable and Rex's partnership agreement in the transfer of real property must b) be in writing and involve the exchange of valid consideration.

Step-by-step explanation:

In order for Sable and Rex's partnership agreement to be enforceable in the transfer of real property, it must be in writing. This means that the agreement should be documented in a written form.

Additionally, the agreement should involve the exchange of valid consideration. Consideration refers to something of value exchanged between the parties involved, such as money or services.

This ensures that both parties have something to gain and lose, making the agreement legally binding.The agreement does not necessarily need to be filed in the appropriate state office or exclude third parties to be enforceable.