Statute of Frauds

Question 1

Statute of Frauds

Answer 1

2-201
In order to be enforceable a contract for the sale of goods of $500 or more must be :
in writing and signed by the parties .

Question 2

Under the UCC, under what circumstances does the statute of Frauds require that a sales contract be in writing to be enforceable?

Answer 2

When it concerns the sale of goods prices at $500 or more.

Question 3

Does failure to comply with the Statute of Frauds render a contract void?

Answer 3

No, its only voidable at the option of each party ( as long as neither party has performed or the goods don’t fall within the category of “specially manufactured goods)

Question 4

What elements must appear in writing to satisfy the statute of Frauds in Article 2?

Answer 4

1. Evidence of contract ( basis for believing that the offered oral evidence rests on a real transaction. )
2. Be signed
3. Must show a quantity
   ESQ

Question 5

Are there circumstances in which an agreement will be enforced even if it doesn’t satisfy the SOF?

Answer 5

PAW
Yes, the two other ways to satisfy the SOF are Part performance and admission.

Question 6

Part Performance

Answer 6

with respect to goods for which payment has been made and accepted or which have been received and accepted. (2-201(3)(c)

Question 7

Admission

Answer 7

of contracts existence by party to be charged , in court through pleadings, testimony, or other wise.