The Statute of Frauds
Learn about the specialized statute of frauds that applies in Article 2 if there is a contract for the sale of goods for which the price is $500 or more.
Transcript
The statute of frauds is a legal doctrine requiring certain types of contracts to be in writing to be enforceable in court. Article 2 has its own statute of frauds, which we’ll explore in this lesson.
I. Article 2 Statute of Frauds
Imagine a builder needed to purchase various drywall materials for an upcoming project. The builder and a supplier orally agreed that the supplier would deliver all the materials the builder needed to complete the project in exchange for $100,000. The supplier failed...
