Question

Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the land. Under the Statute of Frauds, the agreement between Duane and Evan is enforceable by a. Finance Bank. b. Duane, Evan, or Finance Bank. c. Duane or Evan. d. none of the choices.

Answer 1

None of the choices is the answer for the statement under the statue of fraud the agreement between Duane and Evan is enforceable.

Step-by-step explanation:

According to the Statue of fraud , the agreement between Duane and Evan should be writing to be within the statue and enforceable. If the contract is in writing format then it would be adequate to be enforceable.

The oral contracts are usually enforceable but the land transfer needs to be in writing to be enforceable according to the law of statue of fraud.

When the contract with bank should have some written form which makes it more enforceable contract by finance bank.

Answer 2

Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the land. Under the Statute of Frauds, the agreement between Duane and Evan is enforceable by none of the choices.

Option: D

Step-by-step explanation:

The contract among Duane and Evan must be written to be inside the law and legally binding as per the Principle of Fraud. If the agreement is in writing style then enforceability will be sufficient. Oral agreements are generally enforceable, but in order to be enforceable as per the law of corruption, the land transfer must be in writing.

If the banking agreement would have some written language that makes it more enforceable by finance bank. The law is needed to be applied in written form for further evidence thus none of the options are correct.