Louellen is about to take out a mortgage loan from her credit union. The contract includes the following information: Louellen is offering her house for consideration and that the credit union is offering $350,000; Louellen will pay the loan back over a certain number of months at a certain rate; and Louellen’s signature, along with that of a credit union representative. What, if anything, is this contract missing in order for it to be legally binding, according to the statute of frauds?
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Louellen is about to take out a mortgage loan from her credit union. The contract includes the follo...
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