Contract Essay

1029 words 5 pages
Pat was very frustrated because she wanted to purchase a home but lacked the funds or credit to do so even though Pat was expecting shortly to receive a one-half million dollar final installment payment for some land she sold several years earlier. Dan knew that Pat was very interested in purchasing a home and approached Pat with a proposal to assist Pat in buying a home. Dan told Pat that he would help Pat with the financing. After finding the home she wanted to buy for $250,000, Dan and Pat orally agreed that Dan would purchase the home and "when you come up with the money, I (Dan) will sell it to you (Pat) for $250,000 plus a fair commission to be determined."
Dan purchased the home identified by Pat and the following week Pat moved
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Although, Dan failed to respond to the question, he cashed the check. The note on the check, and the question, memorialized the transaction. Here because the Statue of frauds applies, the agreement had to be memorialized in writing or a suitable record made. The memorializing requires that the writing be signed by or on behalf of the party against whom enforcement is sought. It is likely that Pat’s signing of the check will provide evidence to the court that the contract between her and Dan did exist. Essentially, the document indicated that a contract had been made between the parties. In addition, it must state with reasonable certainty the essential terms of the unperformed promise. An agreement that falls within the statue of frauds must be signed by or on behalf of the party against whom enforcement is sought. An agreement may consist of several writings or records and only one need to be signed if the circumstances clearly indicated that the various writings relate to the same transaction.
Pat went to Dan with a check for $275,000 to convey the property over to her which he refused and ordered Pat out. In this case, in each instance, Pat performed to each element of the contract between her and Dan. Although, the initial agreement was made orally, she showed reliance upon the oral agreement by demonstrating reliance by taking possession and making improvements, as well as making payments, and

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