Section 2-201(1)of the Uniform Commercial Code is the basic Statute of Frauds provision for ________.
A)sales contracts
B)lease contracts
C)all contracts involving interests in real property
D)mortgage contracts

Question

Quizplus · Accepted Answer

Section 2-201(1) of the Uniform Commercial Code applies to sales contracts and requires that contracts for the sale of goods priced at $500 or more must be in writing and signed by the parties to be enforceable. This provision does not apply to lease contracts, contracts involving interests in real property, or mortgage contracts.

Section 2-201(1)of the Uniform Commercial Code Is the Basic Statute