Question

Assume at the end of the meeting between Jack, Hal, and Sophia, they orally agree to enter into three separate contracts. One contract is for the sale of the intellectual property of the restaurant itself for $1,000,000. The second contract is for the sale of the building that the restaurant is located in for $250,000. The third contract is for the original sign that was outside the restaurant that Jack currently has in his garage, for $400. Which of these agreements violates the Statute of Frauds?

A. The sale of the building and the sale of the intellectual property.B. The sale of the intellectual property and the sale of the sign.C. All of the agreements violate the Statute of Frauds.D. The sale of the building only.

Answer 1

option D The sale of the building only

Step-by-step explanation:

The Statute of Frauds law states that the contracts that deal in the selling or buying of the property or land should be in writing and must be signed by both the parties.

Here, In the given question all the contracts are made in oral although the contract of selling the building that the restaurant is located should have to be done in written

Hence, option D The sale of the building only is correct as it violates the Statute of Frauds