Contracts
An Indiana contract for the sale of commercial real estate that lacks a clear legal description of the property is:
AValid if both parties know which property is meant
BPotentially unenforceable under the Statute of Frauds, which requires an adequate description of the property to be conveyed✓ Correct
CValid only for properties under $1 million
DValid only if the address is included
Explanation
The Statute of Frauds requires real estate contracts to contain an adequate description of the property. A contract with an insufficient legal description may be too uncertain to enforce.
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