BL 260 Chapter Notes - Chapter 16: Oral Contract, Parol Evidence Rule, Estoppel
Document Summary
Good idea to put contracts in writing anyway. Writing contract an exception to the general rule. State statute that lists what contracts must be written and signed to be enforceable. Goal: prevent harm to innocent parties by requiring written evidence of contract. Contracts that must be in writing fall under statute of frauds. Under statute of frauds, these contracts must be in writing and signed: contracts involving interests in land. Must be in writing, signed (usually sale of land/real estate) Must identify property with sufficient certainty (must be able to identify the property"s location with its address and be able to identify the property"s boundaries) Solaiman agrees to buy a bp food mart from salim. They sign a purchase agreement that lists the address. Solaiman changes his mind about buying the property and sues to get his security deposit. Holding: the purchase agreement is not enforceable because it does not describe the property with sufficient certainty.
