Juan entered in an oral contract to buy Luke’s vacant building for $50,000

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Juan entered in an oral contract to buy Luke’s vacant building for $50,000. He gave Luke a $5,000deposit. They intended to reduce their agreement to a wri±en contract la±er. Pursuant to theiroral agreement, Juan took possession of the building and spent $30,000 making improvementsso that it would be capable of being rented to the public. Due to rise in the value of similarproper²es, Luke served Juan with a no²ce to vacate the building. Luke contends that the oralcontract is unenforceable and that Juan must vacate the building. Is Luke correct?