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2201.STB
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1991-06-27
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/* Here is the official text of the U.C.C. regarding "Statutes of
Frauds." Please note that the jurisidiction in question may have
adopted a different text. Check if it is important to know!
There are several statutes of frauds- the first one applies for
stuff over $ 5,000*/
U.C.C. Section 1-206
Statute of frauds for Kinds of of Personal Property Not Otherwise
Covered
(1) Except in the cases described in subsection (2) of this
section a contract for the sale of personal property is not
enforceable by way of action or defense beyond five thousand
dollars in amount or value of remedy unless there is some
writing which indicates that a contract for sale has been made
between the parties at a defined or stated price, reasonably
identifies the subject matter, and is signed by the parties
against whom enforcement is sought or by his authorized agent.
(2) Subsection (1) of this section does not apply to
contracts for the sale of goods (Section 2-201) nor of securities
(section 8-319) nor to security agreements (section 9-203.)
/* Here is the text of the Uniform Commercial Code regarding the
Statute of Frauds for sales of goods. */
Uniform Commercial Code, Section 2-201
(1) Except as otherwise provided in this section a contract for
the sale of goods for the price of $ 500 or more is not
enforceable by way of action or defense unless there is some
writing sufficient to indicate that a contract for sale has been
made between the parties and signed by the party against whom
enforcement is sought or by his authorized agent or broker. A
writing is not insufficient because it omits or incorrectly
states a term agreed upon but the contract is not enforceable
under this paragraph beyond the quantity of good shown in such
writing.
(2) Between merchants if within a reasonable time a writing in
confirmation of the contract and sufficient against the sender is
received and the party receiving it has reason to know its
contents, it satisfies the requirements of subsection (1) against
such party unless written notice of objection to its contents is
given within ten days after it is received.
/* "Merchant" is a specially defined term, and means a person
engaged in a particular business. If you are a seller of carpet,
then, you will be held to be a merchant when dealing with other
carpet folks, but you would not be a merchant as to your dealings
with automobiles. */
(3) A contract which does not satisfy the requirements of
subsection (1) but which is valid in other respects is
enforceable
(a) if the goods are to be specially manufactured for
the buyer and are not suitable for sale to others in the ordinary
course of the seller's business and the seller, before notice of
repudiation is received and under circumstances which reasonably
indicate that the goods are for the buyer, has made either a
substantial beginning of their manufacturer or commitment for
their procurement; or
(b) if the party against whom enforcement is sought
admits in his pleading, testimony or otherwise in court that a
contract for sale was made, but the contract is not enforceable
under this provision beyond the quantity of goods admitted; or
(c) with respect to goods for which payment has been
made and accepted or which have been received and accepted.
/* Section 8-319 regards the sale of securities */
A contract for the sale of securities is not enforceable by way
of action or defense unless
(a) there is some writing signed by the party against whom
enforcement is sought or by his authorized agent or broker
sufficient to indicate that the contract has been made for sale
of a stated quantity of described securities at a defined
or stated price; or,
(b) delivery of the security has been accepted or payment has
been made but the contract is enforceable under this provision
only to the extent of such delivery or payment; or,
(c) within a reasonable time a writing in confirmation of the
sale or purchase and sufficient against the sender under
paragraph (a) has been received by the party against whom
enforcement is sought and he has failed to send written objection
to its contents within ten days after its receipt; or
(d) the party against whom enforcement is sought admits in
his pleading, testimony or otherwise in court that a contract was
made for sale of a state quantity of described securities at a
defined or stated price.
/* I never understood this one. Let's assume that you do not want
to admit that a deal was made and want to use the statute of
frauds as a defense. Why admit it? */