Business Law II question 1

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Steve buys a house from Jim. There is no written contract. However, Steve pays the purchase price, moves onto the property, and begins to build a new garage. Jim seeks to evict Steve from the property stating that there was never a valid contract. Is Jim likely to succeed? Why or why not?

Jul 23rd, 2015

Thank you for the opportunity to help you with your question!

Well Jim will succeed as there is no proof that he received any payments.

For a purchase or contract to be enforceable, there must be valid documentation in respect to the property being purchased and  witnessed by a lawyer.

For the above case, Steve will lose funds paid and will be ejected from the house by Jim.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 23rd, 2015

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Jul 23rd, 2015
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Jul 23rd, 2015
Sep 25th, 2017
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