In the presence of several witnesses, A verbally agreed to purchase B's farm for $175,000. The next day, B changed his mind, and refused to sell the farm to
A. On the strength of the verbal agreement of purchase and sale made in the presence of witnesses, A sued B for breach of contract and for a decree of specific performance to compel B to sell him the farm. Assuming the verbal agreement is unenforceable, the contract would still exist.
TRUE

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Morgan Durham · Accepted Answer

Final Answer : True, Explanation :  The Statute of Frauds requires certain types of contracts to be in writing to be enforceable. However, even if a verbal contract is unenforceable, it can still exist as a valid contract. In this case, the verbal agreement between A and B to purchase the farm is unenforceable due to the Statute of Frauds. However, the contract still exists as a valid contract, and A can sue B for breach of contract.

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