Question
On July 1, Katherine agreed to sell her house to Kevin for $500,000. The contract to sell was oral and one of the conditions of
On July 1, Katherine agreed to sell her house to Kevin for $500,000. The contract to sell was oral and one of the conditions of the contract was that, if Kevin paid 50% of the price or $250,000 by July 14, he could live in the house starting on July 22. The other 50% or $250,000 would be due at the time of the closing (transfer of ownership) which was set for September 1. On July 14, Kevin paid the $250,000 and moved into the house on July 23. On August 1, Katherine found another buyer who was willing to pay $750,000 for the house and told Kevin that she will return the deposit to him and that their agreement was ended. Kevin sued her for breach of contract. Katherine defended by stating that since the agreement was oral, it was not enforceable. Is Katherine right or wrong?
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