QuickHelper

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    Phoniex
    Jul-2007 - Jun-2012

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Category > Management Posted 07 Oct 2017 My Price 10.00

Larry and Moe orally agreed that Larry would buy a car from Moe for $450

Larry and Moe orally agreed that Larry would buy a car from Moe for $450. Larry paid Moe a deposit of $100. The next day, Moe received an offer of $550, the car’s fair market value. Moe immediately notified Larry that Moe wouldn’t sell the car to Larry and returned Larry’s $100. If Larry sues Moe and Moe defends on the basis of the statute of frauds, Larry will probably:

lose because the agreement wasn't in writing and signed by Moe.
win because Larry paid a deposit.
lose because the agreement was for less than the fair market value of the car.
win because the agreement was for less than $500.

Answers

QuickHelper
(10)
Status NEW Posted 07 Oct 2017 04:10 PM My Price 10.00

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