Smith and Roberson's Business Law 16th Edition by Richard Mann,Barry Roberts

Exercise 21

Katz offered to purchase land from Joiner, and, after negotiating the terms, Joiner accepted. On October 13, over the telephone, both parties agreed to extend the time period for completing and mailing the written contractuntil October 20. Although the original paperwork deadline in the offer was October 14, Katz stated he had inserted that provision "for my purpose only." All other provisions of the contract remained unchanged. Accordingly, Joiner completed the contract and mailed it on Octo ber20. Immediately after, however, Joiner sent Katz an overnight letter stating that "I have signed and returned contract, but have changed my mind. Do not wish to s ellproperty." Joiner now claims an oral modification of a contract within the statute of frauds is unenforceable. Katz counters that the modification is not material and therefore does not affect the underlying contract. Explain who is correct.