THE LAND SALE CONTRACT Flashcards
1
Q
Land Sale Contract
A
A land sale contract must satisfy the Statue of Frauds.
To satisfy the Statute of Frauds the
(1) writing must be (2) signed by the party to be charged and (3) contain the essential elements of the transaction.
Once the land sale contract is executed, the deed merges with the contract, and the property owner may only sue under the deed.
2
Q
Marketable Title
A
A seller has a duty to convey marketable title.
Marketable title is free from reasonable doubt of litigation, which a reasonable buyer would be willing to accept in exchange for valuable consideration.
