What is NOT included in the DREAM OILS category under the Statute of Frauds?

What is NOT included in the DREAM OILS category under the Statute of Frauds?

• A. Mortgages
• B. Assignements
• C. Agent agreements
• D. Easements

Answer: (C)

The DREAM OILS acronym is a mnemonic that helps remember the types of agreements that are typically required to be in writing to be enforceable under the Statute of Frauds in real estate transactions. Each letter in "DREAM OILS" stands for a specific category of agreements—D for Deeds, R for Real estate sales contracts, E for Easements, A for Assignments of contracts, M for Mortgages, O for Options to purchase, I for Leases over one year, L for Listing agreements, and S for Sales contracts. In this context, agent agreements, which are often related to the employment relationships between real estate agents and their clients, do not fall under the categories that are explicitly covered by the Statute of Frauds. While agent agreements can be important for establishing agency and fiduciary duties in real estate transactions, they do not require a written form to be enforceable in the same way that mortgages, assignments, and easements do. Therefore, agent agreements are excluded from the DREAM OILS list of agreements that must be in writing, making this the correct answer for what is NOT included in the DREAM OILS category.

The DREAM OILS acronym is a mnemonic that helps remember the types of agreements that are typically required to be in writing to be enforceable under the Statute of Frauds in real estate transactions. Each letter in "DREAM OILS" stands for a specific category of agreements—D for Deeds, R for Real estate sales contracts, E for Easements, A for Assignments of contracts, M for Mortgages, O for Options to purchase, I for Leases over one year, L for Listing agreements, and S for Sales contracts.

In this context, agent agreements, which are often related to the employment relationships between real estate agents and their clients, do not fall under the categories that are explicitly covered by the Statute of Frauds. While agent agreements can be important for establishing agency and fiduciary duties in real estate transactions, they do not require a written form to be enforceable in the same way that mortgages, assignments, and easements do. Therefore, agent agreements are excluded from the DREAM OILS list of agreements that must be in writing, making this the correct answer for what is NOT included in the DREAM OILS category.