Blackacre is a three-acre tract of land with a small residence. Olga, the owner of Blackacre, rented it to Terrence at a monthly rental of $200. After Terrence had been in possession of Blackacre for several years, Terrence and Olga orally agreed that Terrence would purchase Blackacre from Olga for the sum of $24,000, payable at the rate of $200 a month for 10 years, and also would pay the real estate taxes and the expenses of insuring and maintaining Blackacre. Olga agreed to give Terrence a deed to Blackacre after five years had passed and $12,000 had been paid on account and to accept from Terrence a note secured by a mortgage for the balance. Terrence continued in possession of Blackacre and performed his obligations as orally agreed. Terrence, without consulting Olga, made improvements for which he paid $1,000. When Terrence had paid $12,000, he tendered a proper note and mortgage to Olga and demanded the delivery of the deed as agreed. Olga did not deny the oral agreement but told Terrence that she had changed her mind and refused to complete the transaction. Terrence then brought an action for specific performance. Olga pleaded the Statute of Frauds as her defense. If Olga wins, it will be because
nothing Terrence could have done would have overcome the original absence of a written agreement. the actions and payments of Terrence are as consistent with his being a tenant as with an oral contract. Terrence did not secure Olga's approval for the improvements that he made. Olga has not received any unconscionable benefit, and therefore Terrence is not entitled to equitable relief.