Explanation should include

• negotiation of the sale
• contract agreements
• statute of frauds (SOF)
• clarity in terms and conditions.

Process/Skill Questions:

• What is consideration?
• What characteristics constitute capacity?
• When does the SOF apply?
• If the SOF applies, what must the contract have to be enforceable?
• What is surety or guaranty?
• What is an executor?
• What is personal liability?
• What are examples of contracts involving real estate?
• What is the ordinary course of a seller's business?
• What does it mean for a contract to be signed by the party against whom enforcement is sought?

Teacher Resource: Agricultural Sales CDE, Virginia FFA