Legal Question in Real Estate Law in New York

Statute of Frauds

If I am verbally told by a seller over and over that I have a deal to purchase their property, and the seller knows i have invested thousands or 100,000+ in due diligence in investigating the property. If I tell them I am doing so and will be investing more in Due diligence and am verbally told by them that we have a deal, and to keep up with my due diligence. Does their canceling our deal allow me any recourse? All written correspndences between us state that there is no deal until a binding C of S is signed and executed. We agreed on a purchase price.


Asked on 10/14/02, 3:49 pm

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: Statute of Frauds

Since there was no written contract signed I see no enforcement possible. Spending $ to investigate would not change the rule of the Statute of Frauds.

Read more
Answered on 10/15/02, 4:41 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in New York