Molly,a non-merchant,is at a boat store and orally agrees to purchase a sailboat for $2,000.Molly sends a written confirmation to the boat dealer the next day describing all relevant terms of their agreement.There is no response from the store.When Molly goes to the store a week later to pick up the boat,the store refuses to sell the boat for $2,000.Which is true regarding whether the Statute of Frauds has been satisfied?
A) This Statute of Frauds has not been satisfied.
B) This Statute of Frauds has been satisfied because the boat dealer did not object to the written confirmation.
C) This Statute of Frauds has been satisfied if $2,000 is a reasonable price for the boat.
D) This Statute of Frauds has been satisfied because the boat dealer is a merchant.
E) The firm offer rule would require the boat to be sold at the offered price of $2,000 in order for the Statute of Frauds to be satisfied.

Question

Quizplus · Accepted Answer

The Statute of Frauds requires contracts for the sale of goods priced at $500 or more to be in writing and signed by the party against whom enforcement is sought. While Molly sent a written confirmation, there was no response from the store, and an oral agreement is not sufficient to satisfy the statute. Therefore, the statute has not been satisfied.

Molly,a Non-Merchant,is at a Boat Store and Orally Agrees to Purchase