Asked by
Sophia Singh
on Dec 18, 2024
Verified
In the presence of several witnesses, A verbally agreed to purchase B's farm for $175,000. The next day, B changed his mind, and refused to sell the farm to
A. On the strength of the verbal agreement of purchase and sale made in the presence of witnesses, A sued B for breach of contract and for a decree of specific performance to compel B to sell him the farm. B may successfully plead the Statute of Frauds as a defence.
TRUE
Statute of Frauds
A legal concept that requires certain types of contracts to be in writing and signed by the parties to be enforceable.
Verbal Agreement
A contract or agreement made through spoken words rather than writing, which can be legally binding.
Specific Performance
A legal remedy requiring a party to perform their part of a contract, rather than simply paying damages for failing to do so.
- Explore the efficacy and limitations of the Statute of Frauds in the execution of contracts.
Verified Answer
FS
Learning Objectives
- Explore the efficacy and limitations of the Statute of Frauds in the execution of contracts.