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| Teaching Since: | May 2017 |
| Last Sign in: | 362 Weeks Ago, 6 Days Ago |
| Questions Answered: | 20103 |
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MBA, PHD
Phoniex
Jul-2007 - Jun-2012
Corportae Manager
ChevronTexaco Corporation
Feb-2009 - Nov-2016
Pat promises Matt that he will buy his land for $100,000. Matt agrees wholeheartedly. They shake hands and agree to meet the next day to complete the transaction. Pat brings the agreed upon sum; Matt gives Pat a valid deed to the land.
Subsequently Pat suffers buyer's remorse and wants his money back. What best describes his legal situation with respect to the Statute of Frauds?
1) Â Â Pat can get his money back because there was no written contract as required by the Statute of Frauds.
2) Â Â Pat can get his money back because the terms of the deal were not clear enough.
3) Â Â Pat cannot get his money back because the contract is still executory.
4) Â Â Pat cannot get his money back because the contract has been fully performed and it doesn't matter that the contract was verbal.
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