Speedy Trucking Inc. and Trailer Rents LLC are parties to an oral agreement for a one-year lease of six doublewides with payments totaling more than $40,000. They may satisfy the Statute of Frauds by

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The Statute of Frauds requires certain contracts to be in writing to be enforceable. This includes contracts for the lease of goods with payments totaling more than $500. Setting out the terms in a memo satisfies this requirement by providing a written record of the agreement.