Depending on how a contract is created. It is either express or implied. An express contract exists when the parties state the terms and show their intentions in words. An express contract may be oral or written. Under the statute of frauds, certain types of contracts (including those for the rental of real property) must be in writing to be enforceable in a course of law.
Enforceable means that the parties may be forced to comply with the contract’s terms and conditions. Enforceable between the parties is one method of enforcement. Enforcement in course is the other method of enforcement. Certain contracts are only enforceable between the parties and are not able to be enforced in court. In an implied contract, the agreement of the parties is demonstrated by their acts and conduct.
The Illinois Statute of Frauds requires that any contracts for the sale of land, or for leases that will not be fulfilled within one year from the date they entered into, must be in writing to be enforceable in court. The Illinois Real Estate License Act of 2000 also indicates that certain contracts must be in writing, such as employment agreements between Sponsoring Brokers and their sponsored Licensees.
