Multiple Choice
On May 1,Dix and Wilk entered into an oral agreement by which Dix agreed to purchase a small parcel of land from Wilk for $450.Dix paid Wilk $100 as a deposit.The following day,Wilk received another offer to purchase the land for $650,the fair market value.Wilk immediately notified Dix that he would not sell the land for $450.If Dix sues Wilk for specific performance,Dix will:
A) prevail,because the amount of the contract was less than $500.
B) prevail,because there was part performance.
C) lose,because the fair market value of the land is over $500.
D) lose,because the agreement was not in writing and signed by Wilk.
Correct Answer:
Verified
Correct Answer:
Verified
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