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Florida — Contracts — Florida Real Estate — State Law Practice Test

Florida — ContractsQuestion 1 of 8

8 questions in this topic · 8 drawn at random this round

A Florida sale contract is made contingent on the buyer obtaining mortgage financing by a stated date. If the buyer makes a good-faith effort but cannot obtain the loan by that date, what is the typical effect under the financing contingency?

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This Florida Real Estate — State Law Florida — Contracts practice set has 8 practice questions based on the official exam materials, each with an instant explanation.

Sample questions

Three questions from the Florida — Contracts bank with the correct answer and an explanation. The practice quiz above draws 8 questions at random from the same bank.

  1. Under Florida's statute of frauds, which type of real estate contract must be in writing and signed by the party to be charged to be enforceable in a Florida court?

    • A contract for the sale of land — Correct answer
    • A month-to-month residential lease
    • An oral agreement to split a referral fee between licensees
    • A verbal listing for a 30-day open listing

    Explanation: Florida's statute of frauds (§725.01) makes a contract for the sale of land (or any uncertain interest in land) unenforceable unless it is in writing and signed by the party to be charged. An oral land-sale contract cannot be sued upon. Statute of frauds(防欺诈法 / estatuto de fraudes): the FL rule requiring certain contracts to be written. Source: §725.01 FS.

    Handbook: Florida Contracts — statute of frauds, land-sale contracts in writing (§725.01 FS)

  2. A Florida lease agreement for real property is for a term of three years but was made orally. Under Florida's statute of frauds, what is its status?

    • Unenforceable, because a lease over one year must be in writing — Correct answer
    • Fully enforceable, because oral leases are always valid in Florida
    • Enforceable only if recorded in the county records
    • Automatically converted to a one-year written lease

    Explanation: Under §725.01, a lease that is not to be performed within one year — including any lease for a term longer than one year — must be in writing to be enforceable. A three-year oral lease therefore fails the statute of frauds. Lease over one year(一年以上租约 / arrendamiento de más de un año): must be written in FL. Source: §725.01 FS.

    Handbook: Florida Contracts — leases longer than one year must be written (§725.01 FS)

  3. In a typical Florida residential sale-and-purchase contract, how is the contract's "effective date" generally determined?

    • The date the last party signs and final acceptance is delivered to the other party — Correct answer
    • The date the buyer's first offer is written, regardless of acceptance
    • The scheduled closing date
    • The date the listing agreement was signed

    Explanation: Under Florida contract practice, the effective date is the date the last party signs (executes) and that final acceptance is communicated/delivered to the other party — it is the date from which time periods (inspection, financing, closing) are counted. Effective date(生效日 / fecha de vigencia): the date the last party signs and delivers acceptance. Source: Florida sale-and-purchase contract practice (FL contract law on offer/acceptance delivery).

    Handbook: Florida Contracts — effective date of the sale-and-purchase contract (FL contract practice)