Statute Of Frauds

Question 1

Default rules

Answer 1

Closing time will be at a reasonable time if not specified in the contract
Buyer obligated to pay all in cash at closing
Right to possession passes to the buyer at closing
Buyer must be identified in writing
Buyer presumptively has the full right if assignment
Caveat emptor
Fixtures follow the realty
Equitable conversion puts buyer at risk
Seller must convey marketable title
Merger (all warranties in the contract merge into the deed)