Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half...

 

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Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half payable now as a down payment; one-half payable in 30 days at the time of closing when the title will be transferred. The buyer, Willis, is to have possession immediately. Willis pays Leslie $25,000, takes possession of the land, and starts building a house. At the time of closing. Willis has made a substantial beginning on the house. However, Leslie refuses to transfer the title, claiming the oral contract is not enforceable. This contract is: O enforceable, because the statute of frauds does not apply to this interest in land. O enforceable, because Willis has partially performed the oral contract and made improvements on the land. O unenforceable, because there is no writing signed by Leslie. O unenforceable, because the parol evidence rule applies. A promise by Darden Restaurants to buy all of the produce it needs this next year at an established price from Elfredo's Produce would be an: O enforceable requirements contract. O unenforceable promise based on past consideration. 1 pts O enforceable output contract. O unenforceable, illusory contract. Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half payable now as a down payment; one-half payable in 30 days at the time of closing when the title will be transferred. The buyer, Willis, is to have possession immediately. Willis pays Leslie $25,000, takes possession of the land, and starts building a house. At the time of closing. Willis has made a substantial beginning on the house. However, Leslie refuses to transfer the title, claiming the oral contract is not enforceable. This contract is: O enforceable, because the statute of frauds does not apply to this interest in land. O enforceable, because Willis has partially performed the oral contract and made improvements on the land. O unenforceable, because there is no writing signed by Leslie. O unenforceable, because the parol evidence rule applies. A promise by Darden Restaurants to buy all of the produce it needs this next year at an established price from Elfredo's Produce would be an: O enforceable requirements contract. O unenforceable promise based on past consideration. 1 pts O enforceable output contract. O unenforceable, illusory contract.

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