New opinions: March 3
Lund v. Swanson, et al. 2021 ND 38 Docket No.: 20200147 Filing Date: 3/3/2021 Case Type: CONTRACTS Author: VandeWalle, Gerald W.
Highlight: A settlement agreement is a contract between parties, and thus contract law applies.
An agreement to transfer oil interests for valuable consideration is an agreement for the sale of real property, or of an interest therein, under the statute of frauds, N.D.C.C. § 9-06-04(3).
Subsection 9-06-04(3), N.D.C.C., provides that an agreement for the sale of real property, if made by an agent of the party sought to be charged, is invalid unless the authority of the agent is in writing subscribed by the party sought to be charged.
To take a contract out of the statute of frauds, the party seeking to enforce the oral contract must establish part performance that is not only consistent with, but that is consistent only with, the existence of the alleged oral contract.
Cases accepting the doctrine of part performance have recognized three major categories of acts by the purchaser that may make an oral contract enforceable: paying the contract price, taking possession of the property, and making improvements.
A party missing out on the benefit of their contractual bargain does not promote an injustice or perpetrate a fraud as to require an agreement to be removed from the statute of frauds.
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