Question
Pat promises Matt that he will buy his land for $100,000.Matt agrees wholeheartedly. They shake hands and agree to meet the next day to complete
Pat promises Matt that he will buy his land for $100,000.Matt agrees wholeheartedly. They shake hands and agree to meet the next day to complete the transaction.Pat brings the agreed upon sum; Matt gives Pat a valid deed to the land.
Subsequently Pat suffers buyer's remorse and wants his money back.What best describes his legal situation with respect to the Statute of Frauds?
1) Pat can get his money back because there was no written contract as required by the Statute of Frauds.
2) Pat can get his money back because the terms of the deal were not clear enough.
3) Pat cannot get his money back because the contract is still executory.
4) Pat cannot get his money back because the contract has been fully performed and it doesn't matter that the contract was verbal.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started