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BMGT 380 Final Examination

BMGT 380 Final Examination

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BMGT 380 Final Examination

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BMGT 380 Final Examination

1. Sam orally agreed to sell Ramie some land for $500,000. Ramie paid Sam the

$500,000; Sam gave Ramie the deed to the land. Ramie took possession of the land

and began building a cabin on it. One month later, Sam tried to retake possession

of the land by arguing that the contract for the sale was invalid because it was oral,

not written. Sam sued Ramie to invalidate the contract and retake the land.

The court will likely conclude that Sam will:

a) Win; the sale exceeded $500 so the contract must be written to be valid.

b) Win; all land sales contracts must be written.

c) Lose; because the contract was fully executed Sam cannot rescind the

contract.

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