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Sam Agreed to Sell His House to Joe for $400,000

question 48

Essay

Sam agreed to sell his house to Joe for $400,000, and although the agreement was not in writing, Joe gave Sam $25,000 as a deposit. Sam gave Joe a receipt for the $25,000, indicating that it had been received but not stating for what purpose. In the absence of any other writing, is this contract enforceable? Explain.


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