Which statement about the Statute of Frauds in partnership formation is accurate?

The accurate statement regarding the Statute of Frauds in partnership formation is that verbal agreements are generally sufficient unless immovable property is contributed. The Statute of Frauds requires certain types of contracts to be in writing to be enforceable, and one of those instances involves the transfer of interests in real property. In the context of partnerships, if a partner contributes immovable property (real estate) as part of their investment in the partnership, then a written agreement is necessary to satisfy the requirements of the Statute of Frauds.

In situations where partnerships do not involve contributions of immovable property, oral agreements can be just as binding as written ones, as long as the terms can be demonstrated and are not subject to the Statute of Frauds. Thus, verbal agreements can be sufficient for establishing a partnership unless the terms violate the statute by involving real property.

This distinction clarifies why the statement highlighting the need for a written agreement only in the context of immovable property is accurate, while the other options misinterpret the conditions under which a written agreement is necessary.