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Sam and Denise enter into an oral contract whereby Sam promises to sell his one-acre land to Denise for $1,000,000. Sam and Denise perform according to the terms of this oral contract. Denise pays $1,000,000 and becomes the owner of Sam’s one acre of land. Which of the following is true with regard to this scenario?
Denise can seek to set aside the contract as the contract falls under the Statute of Frauds.
This transaction does not come under the Statute of Frauds.
In case of a breach, the money or the value of the service cannot be recovered as it is an oral contract.
Sam cannot seek to set aside the contract on the ground that there was no writing.
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