A buyer in Olathe, Kansas submits a written offer to purchase a home. The seller verbally agrees to the terms over the phone but never signs the written contract. The buyer attempts to enforce the agreement. Under Kansas law, what is the most likely outcome?
Correct Answer
A) The contract is unenforceable because the Kansas Statute of Frauds requires real estate contracts to be in writing and signed
Under the Kansas Statute of Frauds (K.S.A. 33-106), contracts for the sale of real property must be in writing and signed by the party to be charged in order to be enforceable. The seller's verbal acceptance over the phone does not satisfy this requirement. Without the seller's written signature on the contract, the agreement is unenforceable against the seller, regardless of the mutual verbal agreement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A time is of the essence clause in a contract means that all deadlines and dates specified in the agreement are strictly enforceable, and failure to meet them constitutes a material breach.
An appraisal contingency allows the buyer to cancel or renegotiate the contract if the property's appraised value comes in lower than the agreed-upon purchase price. This contingency protects buyers from overpaying.
An assignment of contract transfers one party's rights and obligations under a contract to a third party called the assignee. The original party, known as the assignor, transfers their contractual position to someone who was not originally part of the agreement.
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