Valley Commercial Space,Inc. ,orally contracts for a lease of its facilities to Willis for the use of his start-up driftboat company.Willis pays part of the price,takes possession,and improves the property for his boatbuilding enterprise.The contract is most likely enforceable by

Question

Quizplus · Accepted Answer

Both Valley and Willis have entered into an oral contract and have performed part of the agreement. Therefore, the contract is enforceable by both parties. As for the third party, such as a driftboat customer, they do not have any contractual rights as they are not a party to the contract. The contract cannot be enforced by no one as Valley and Willis have partially executed the agreement.