Author Question: Alver Developers had an oral purchase agreement to buy land from Tucker Farms. Tucker Farms ... (Read 73 times)

plus1 · **on:** Jun 24, 2018

Alver Developers had an oral purchase agreement to buy land from Tucker Farms. Tucker Farms permitted Alver to place a construction trailer on the land, move its equipment onto the land, and begin excavation. Alver has begun the grading process of the property, but Tucker Farms is backing out of the deal on the grounds that its oral agreement was not valid. Choose one of the following to describe Alver's rights.
A)Alver has no rights because it was an oral and unenforceable contract.
B)If Alver has paid some money down, he could enforce the oral agreement.
C)Alver can enforce the oral agreement using the doctrine of partial performance under the Statute of Frauds.
D)Alver can enforce the oral agreement using the doctrine of partial performance under the Statute of Frauds if he has also paid the purchase price for the land.

Question 2

Which of the following is a requirement of negotiability?
A) The payee and the drawee need not be designated.
B) The instrument must be in writing and signed by the party executing it.
C) The instrument must provide for the payment of a flexible amount of money.
D) The order or the promise in the instrument must be conditional.