Under Article 2's statute of frauds, the basic rule is that a contract for the sale of goods priced at $5000 or more is not enforceable unless it is in writing and signed by the party against whom enforcement is sought.

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Under the Uniform Commercial Code (UCC) Article 2, the statute of frauds applies to sales of goods priced at $500 or more, not $5000. Contracts for the sale of goods at or above this amount must be in writing to be enforceable.

Under Article 2's Statute of Frauds, the Basic Rule Is