Asked by Carol Jasso on Jun 08, 2024
Verified
The part performance exception to the land contract provision of the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.
Part Performance Exception
A legal doctrine that allows for the enforcement of an oral contract when one party has taken significant actions in reliance on the contract.
Land Contract Provision
Specific clauses within a contract for the purchase of land that stipulate the terms, conditions, and obligations of the parties involved.
Valuable Improvements
Enhancements or changes made to a property or piece of land that increase its value.
- Recognize the exceptions to the statute of frauds and how they affect contract enforceability.
Verified Answer
Learning Objectives
- Recognize the exceptions to the statute of frauds and how they affect contract enforceability.
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