Asked by Kayla Lippoldt on May 08, 2024

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An oral contract for the transfer of an interest in land may be enforced if the party seeking enforcement has so changed his position in reasonable reliance on the contract that a court can prevent injustice only by enforcing the contract.

Oral Contract

A verbal agreement between parties that is legally binding, provided it meets all requirements of a valid contract.

Reasonable Reliance

Reasonable reliance involves acting based on the expectation that the information or promises provided by another party are accurate and trustworthy.

Interest in Land

Legal rights or investments in real property, including ownership or the right to use the land under certain conditions.

  • Identify the exceptions to the statute of frauds and their impact on the enforceability of contracts.
  • Comprehend the conditions under which oral contracts may be considered enforceable despite the statute of frauds.
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MA
Málfríður Anna EiríksdóttirMay 10, 2024
Final Answer :
True
Explanation :
This statement reflects the principle of "part performance," where courts may enforce an oral contract for the transfer of an interest in land if the party seeking enforcement has made significant changes to their position based on the contract. This is an exception to the Statute of Frauds, which generally requires contracts for the transfer of an interest in land to be in writing. The enforcement is allowed to prevent unjust enrichment of one party at the expense of the other.