This memorandum (when recorded) serves as proof that a purchase agreement was made.

Who Can Sign a Memorandum?
According to § 38-10-108:
The memorandum must be signed by the party against whom the enforcement of the contract is being sought (usually the person who is being asked to fulfill the contract, typically the Vendee/Buyer).

Alternatively, the memorandum can also be signed by an authorized agent of the party, meaning someone legally designated to act on behalf of the person (such as an attorney or a legal representative).

How Does It Help?
A signed memorandum helps by:
1. Making the Agreement Enforceable: If the contract falls under the statute of frauds (which applies to certain types of contracts, like those for the sale of land or contracts that cannot be performed within one year), the memorandum provides the written evidence required to enforce the agreement.

2. Preventing Fraud and Disputes: By requiring a signed writing, the statute of frauds and the memorandum provision protect against false claims of agreements that were never made. The signed document becomes legal proof that both parties were in agreement.

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