Question
Russell and Sally Kiker agreed to sell their house to Mona Sloop. The parties signed a contract that identified the property by its street address
Russell and Sally Kiker agreed to sell their house to Mona Sloop. The parties signed a contract that identified the property by its street address and stipulated a down payment, which was nonrefundable if closing did not occur by August 31. On the same day, they executed a deed containing a formal, legal description of the property. When the closing had not occurred by September 6, the Kikers filed a suit in an Arkansas state court against Sloop, seeking a declaration that they were entitled to keep the down payment. Sloop filed a counterclaim for its return. She argued that their contract violated the Statute of Frauds. The court issued a summary judgment in the favor of the Kikers. Sloop appealed. A state intermediate appellate affirmed. The deed executed on the same day as the contract identified the Kikers as grantors and included a legal description of the property. Instruments executed at the same time by the same parties, for the same purpose, and in the course of the same transaction ... will be read and construed together. Moreover, if a contract furnishes a means by which realty can be identified ... the Statute of Frauds is satisfied. The designation in the contract of the premises by its street address met the requirement.
Question
If this contract had involved rental of the property rather than its sale, would the result have been different?
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