Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Scenario: Tom owned a house set on 1 acre of land that he wanted to sell when he retired in April, 2017. On April 1,

Scenario: Tom owned a house set on 1 acre of land that he wanted to sell when he retired in April, 2017. On April 1, 2016, Mary and Tom orally agreed that Mary would purchase Tom's house and 1 acre of land for $350,000 cash on April 15, 2017. In the meantime, Mary and Tom agreed that Tom would continue to own and live on the property.On April 15, 2017, Mary presented Tom with a cashier's check for $350,000 for the house and Tom transferred the deed to the house and land to Mary in her name. Mary and Tom properly filed all the documents necessary for the closing on the real estate sale.

Mary and Tom had also agreed previously that Tom could remain on the property following the closing of the sale on April 15, 2017 until April 17, 2017 to give him time to move out. On April 17, Tom refused to move out claiming that their oral agreement for sale of the property was invalid and unenforceable under the Statue of Frauds.

1.Was the sale originally subject to the Statute of Frauds and if so, for what reason(s) and why?

2.Is the contract for sale of the property valid so that Tom has to relinquish possession of the property? Why or why not?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law Express Constitutional And Administrative Law

Authors: Chris Taylor

6th Edition

1292210109, 978-1292210100

More Books

Students also viewed these Law questions

Question

What is the typical class size?

Answered: 1 week ago