Judy orally promises her daughter, Liza, that she will give her a tract of land for her home. Liza, as intended by Judy, gives up her homestead and takes possession of the land. Liza lives there for six months and starts construction of a home. Is Judy bound to convey the real estate? Why or why not b$.$ Ralph, knowing that his son, Ed$,$ desires to purchase a tract of land, promises to give him the $$25,000$ he needs for the purchase. Ed$,$ relying on this promise, buys an option on the tract of land. Can Ralph rescind his promise? Why or why not?