Contracts with Indian tribes and bands. Most contracts don't provide for a cooling-off period, however.This Frequently Asked Questions (FAQs) page will discuss 50 questions that clients often ask attorneys about breach of contract in Minnesota. Every contract for the leasing for a longer period than one year or for the sale of any lands, or any interest in lands, shall be void. Minnesota has a prompt payment law, Minnesota Statutes §16A. 124, which requires State agencies to pay valid obligations in a short timeframe. A contract for deed is a purchase contract for real estate. Typically, Minnesota recognizes contracts involving goods in its Statute of Frauds. The Bill creates a far more rigorous test for determining whether an individual in the construction context qualifies as an independent contractor. A Minnesota Contract for Deed generally refers to an executory contract for the purchase and sale of Minnesota real estate.