Statute of Frauds Fritz

Title: Business Law
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14.1 Statute of Frauds Fritz
This involves the sale of property under the statute of fraud. In a contract of credit sale, the ownership in property or the title passes on to the buyer after the final payment. As such in this case the title of the property does not pass to the buyers. Also the fact that the documents had not been executed by the other side leaves no contract between the parties. In this case therefore, Hoffman and Frey have no actionable claim against the new buyer nor are they bound for any remedy under the specific performance.
14.8 Sufficiency of Writing
In this case, Levin and Lipton on one hand and Philip show their intention to enter into a contract for the purchase of San Diego Clippers. Though they drafted a memorandum during their meeting this does not initiate a contract between them. This is only an offer: an expression of willingness to contract in definite terms once such terms are accepted. It manifests the intuition of the offeree to transact with the offeror. It can be withdrawn without breach of contract i.e. by revocation. Besides, the statute of frauds states that certain contracts need to be in writing. This includes contracts of sale and transfer of property. The signatures of consent of the parties involved are essential in this statute. Thus Knight is right that no contract could hold as without the signatures of consent and that it was only an offer.
15. Sofias v. Bank of America
In this case, Angelo Boussiacos entered a contract with Demetrios Sofia. As such the contract terms and conditions including the consideration for the contract apply only to the parties to the contract: Angelo and Sofia. As such, the contract between Bank of America and Angelo does not in any way bind to the contractor. Thus a breach of contract between the Bank of America and Angelo is a breach only to the two parties but not third parties. Thus Sofia has no actionable claim against the Bank of America.
15.6 Delegation of Duties
In this case, Milford enters a contract with Stewart for the purchase of a horse. Later Stewart enters another contract with McKinnie on the sale of ...