BUS311_chapter_05

Ifthe leaserunsforoneyearormorehowever

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Unformatted text preview: ould be noted that many states have special statutes governing prenuptial agreements, which may have other limits and requirements in addition to the writing provision. Contracts for the Sale of Goods With a Price of $500 or More Article 2 of the Uniform Commercial Code (UCC) contains a statute of frauds A promise given in consideration of marriage must be written (§2-201(1)) that requires any contract to be enforceable. involving the sale of goods for a price Beowulf Sheehan/Getty Images of $500 or more to be evidenced by a signed writing in order to be enforceable. Goods can be defined as tangible personal property that is capable of being moved and includes pets and other domestic animals. Consider the following examples: 1. Charles agrees to sell his butterfly collection to Sandra for $600. 2. Harry agrees to sell his motorcycle to Jessica for $500. 3. Mark agrees to sell his piano to Robin for $2,900. 4. Kim agrees to sell her horse to Bret for $1,000. Each of the above examples involves the sale of goods for a price of $500 or more that must be evidenced by a signed writing in order to be enforceable...
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This test prep was uploaded on 04/09/2014 for the course BUS 311 taught by Professor Parker during the Spring '10 term at Ashford University.

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