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4 Cards in this Set
- Front
- Back
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Validity of sales contract (what are the requirement of statute of fraud)
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1. Must be in writing
2. Describe property 3. Must state price or methodology for determination 4. Must be signed by party to be charged |
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Counter argument to statutes of fraud
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a. Part performance
i. P ii. P iii. I b. Estoppel (reliance, promissory estoppel) |
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What are two ways that sale contracts are breached?
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1. "Failure to deliver marketable title"
2. "Failure to disclose known and latent material defects." |
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Failure to deliver marketable title
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a. Marketable title if free from any defect that would raise reasonable doubt as to its validity. (must be injurious to the property right the seller promised to convey)....
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