Which of these statements is false regarding the statute of frauds?

Prepare for the North Carolina Broker Reciprocal Exam. Sharpen your skills with flashcards and multiple-choice questions. Each question offers explanations to ensure clarity and understanding. Get ready to excel!

The statement regarding specific performance actions cannot succeed for personal services is accurate, making it the correct choice in identifying the falsehood among the options.

In contract law, specific performance is a legal remedy that compels a party to execute a contract according to its terms. However, specific performance is generally not applicable in cases involving personal services. The rationale behind this is based on public policy and practicality, as compelling someone to carry out personal services could lead to involuntary servitude. Instead, parties are typically required to seek monetary damages in the event of a breach involving personal service contracts, making the assertion in this choice true.

In contrast, the other statements regarding the statute of frauds hold validity. It is a fundamental principle that all contracts must have sufficient consideration to be enforceable, ensuring that something of value is exchanged. Furthermore, legal actions based on contract breaches do need to be commenced within a specified timeframe, as dictated by statutes of limitations. Lastly, while many contracts must be in writing to be enforceable, especially those concerning real estate or agreements that cannot be performed within one year, there are important exceptions that can apply depending on the specifics of the contract type. Thus, only the statement about specific performance for personal services is misleading and accurately identifies

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