The part performance exception to the statute of frauds in many states requires both that the transferee has paid a portion of the purchase price and has either taken possession of the real estate or has started to make valuable improvements on it.

Question

Quizplus · Accepted Answer

The part performance exception to the statute of frauds in many states does indeed require both partial payment of the purchase price and either possession of the real estate or valuable improvements started on it.

The Part Performance Exception to the Statute of Frauds in Many