Legal Question in Real Estate Law in New Jersey

oral contracts

My friend enters into an oral contract to purchase a tract of land from somone. The land is considered worthless, but my friend feels that she has discovered a possible usage that would drastically increase the value of the land. To assure herself of the potential value of the land, my friend orally hires an attorney to investigate the title and records associated with the land in question. After doing some research on her own about the land, my friend discovers that the land is indeed useless, and refuses to honor her contracts with with the person and her attorney. Must she honor both contract agreements and why?


Asked on 12/06/06, 10:03 am

1 Answer from Attorneys
Walter LeVine Walter D. LeVine, Esq.

Re: oral contracts

Are you sure this is not a bar exam question, as it sounds like one. Basic answer is that almost all contracts for the sale-purchase of real estate must be in writing under the NJ Statute of Frauds. There are a few exceptions and the Statute must be researched. If not in writing, they are usually void from the inception, subject to any exception. There are also issues of ethics on the part of the prospective buyer who did not disclose certain information. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship. Omitted or missing facts could change the reply.

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Answered on 12/06/06, 1:26 pm


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