Contracts
An Oregon buyer and seller agree verbally to a $10,000 price reduction after the inspection. For this modification to be legally enforceable, it must be:
ASufficient as a verbal agreement between the parties
BDocumented in a written addendum signed by both parties✓ Correct
CRecorded at the county courthouse
DApproved by both agents in writing
Explanation
Modifications to real estate purchase contracts must comply with the Statute of Frauds — they must be in writing and signed by both parties to be enforceable. A verbal agreement to modify the price, even if genuinely agreed upon, is not legally enforceable for real estate.
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