Todd is in dire financial straits and must raise money immediately. The only asset he could possible sell is the piece of real property he inherited from his grandmother. Jenny, aware of Todd's financial situation, makes an unsolicited offer to purchase Todd's property at an incredibly reduced price. In fact, Jenny's offer is less than one third the market value of the property. Todd, desperate to make immediate cash and feeling as though he has no other choice, orally agrees to sell the property to Jenny for the amount she offered. Todd then delivers a clean and marketable certificate of title to Jenny and in return Jenny pays Todd the amount offered in cash. Sometime later, after Todd's financial situation improves, he sues Jenny for cancellation of the purchase based upon the failure to satisfy the statute of frauds as Todd and Jenny never reduced their agreement to writing. In this situation:

Select one:

a.the agreement will be ruled unenforceable.

b.the agreement will be enforced.

c.the agreement will be declared illegal.

d.None of the options are correct.