Duane and Eddy orally agree to a transfer of forty acres of farmland. Eddy asks Finance Bank for a loan of the funds to buy the land. Under the Statute of Frauds, the agreement between Duane and Eddy is enforceable by

Question

Quizplus · Accepted Answer

Oral agreements for the transfer of real property are generally unenforceable under the Statute of Frauds unless they are in writing and signed by the party against whom enforcement is sought. Therefore, the oral agreement between Duane and Eddy is not enforceable by any of the parties involved.

Duane and Eddy Orally Agree to a Transfer of Forty