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John Orally Agrees to Sell His Land to Mary for $50

Question 102

Multiple Choice

John orally agrees to sell his land to Mary for $50 000.00,and Mary gives John a deposit of $15 000.00.The agreement is to close (be completed) in 30 days.Two days later,John gives Mary a note saying,"I know that you are buying the land to develop it." Five days after this,John tells Mary he has changed his mind and refuses to sell her the land,and Mary accepts this.In a lawsuit by Mary to recover her deposit


A) the deposit will be recoverable on the basis of a total failure of consideration.
B) the deposit will not be recoverable because the time for completion has not yet occurred.
C) the deposit will not be recoverable because the agreement is not in writing.
D) the deposit will be recoverable because Mary has done nothing wrong.
E) none of the above

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