Under the Law and Equity Act, what is necessary for a contract concerning land to be enforceable?

For a contract concerning land to be enforceable under the Law and Equity Act, it must meet specific requirements that establish clarity and intention between the parties involved. The correct answer highlights that the contract must be in writing, specify the subject matter, and be signed by the party seeking enforcement.

Having a written contract is critical because it provides tangible evidence of the agreement, which is particularly important in real estate transactions where stakes and liabilities can be significant. This written formality helps prevent misunderstandings or disputes over the terms of the agreement.

Additionally, indicating the subject matter ensures that both parties are clear about what property is being transferred or encumbered. The requirement for a signature from the enforcing party serves as a confirmation that they agree to the terms laid out in the contract, further solidifying its legality and enforceability.

Other options, such as requiring only a verbal agreement or the presence of certification from a legal authority, do not align with the strict standards typically associated with real estate contracts under the applicable law. These standards exist to protect all parties involved in such transactions and to ensure that there is a clear, unambiguous record of the agreement made.