Smith and Benson make an oral contract for the sale of land at a price of $500,000.After paying Smith $400,000 of the purchase price,Benson takes possession of the land.One month later,Smith wants to boot Benson off the land.His argument is that the parties' oral agreement is unenforceable under the statute of frauds.Which of the following is most correct?

Question

Quizplus · Accepted Answer

According to the part performance doctrine,Benson has the right of possession of the land and Smith cannot boot him off it.When the vendee (purchaser of land)acts in clear reliance on an oral contract for the sale of land,an equitable doctrine known as the "part performance doctrine" permits the vendee to enforce the contract notwithstanding the fact that it was oral.

Smith and Benson Make an Oral Contract for the Sale