Thus, "[i]n a suit for specific performance, a written agreement insures that a court enforces the agreement made by the parties and reduces the likelihood that a court will create an agreement where none existed." Gibbens v. Hardin, 239 Va. 425, 430, 389 S.E.2d 478, 480 (1990). With regard to a contract for the sale of real estate, we have previously held that although a legally sufficient, signed writing "may consist of any kind of writing, from a solemn deed down to mere hasty notes or memorandum in books or papers," the writing must nonetheless contain all the essential terms of the agreement.
We find it unnecessary to respond to each argument raised by the Bowers because those arguments ignore the unique role of the chancellor and the purpose of the issue out of chancery. As we recently stated in Gibbens v. Hardin, 239 Va. 425, 389 S.E.2d 478 (1990), " '[t]he chancellor is the keeper of his own conscience and the purpose of the issue is to satisfy him. . . . [T]he verdict . . . is not binding but is merely persuasive.' " Id. at 429, 389 S.E.2d at 479 (quoting Harris v. Citizens Bank. etc., Co., 172 Va. 111, 133, 200 S.E. 652, 660 (1939)).
In Virginia, it is well settled that an express trust in land may be oral. See Gibbens v. Hardin, 239 Va. 425, 389 S.E.2d 478, 481 (1990); Robinette v. Robinette, 4 Va. App. 123, 354 S.E.2d 808, 810 (1987); Peal v. Luther, 199 Va. 35, 97 S.E.2d 668, 669-70 (1957). In order to establish an oral trust, however, "the declaration must be unequivocal and explicit, and the evidence thereof must be clear and convincing."