For a land contract within the Statute of Frauds, which elements are required?

For a land contract within the Statute of Frauds, which elements are required?

• A. Consideration only.
• B. Description of land only.
• C. Signed by the transferor only.
• D. All of the above (consideration, description of land, and signed by the transferor).

Answer: (D)

For a land contract to be enforceable under the Statute of Frauds, the writing must establish a defined transaction with enough specificity to be enforceable. It has to be in writing and signed by the party who would be charged in a lawsuit (the party against whom enforcement is sought). In addition, the essential terms must be included to show a real agreement: a clear description of the land so the property can be identified, and the price or consideration that is being exchanged for the land. Those elements—consideration (the bargain), a description of the property, and a signed writing by the party to be charged—together satisfy the Statute of Frauds and make the contract enforceable. So, all of these components are required for the land-sale contract under the Statute of Frauds.

For a land contract to be enforceable under the Statute of Frauds, the writing must establish a defined transaction with enough specificity to be enforceable. It has to be in writing and signed by the party who would be charged in a lawsuit (the party against whom enforcement is sought). In addition, the essential terms must be included to show a real agreement: a clear description of the land so the property can be identified, and the price or consideration that is being exchanged for the land. Those elements—consideration (the bargain), a description of the property, and a signed writing by the party to be charged—together satisfy the Statute of Frauds and make the contract enforceable. So, all of these components are required for the land-sale contract under the Statute of Frauds.