Downtown Contractors and Equipment Rental Corporation are parties to an oral agreement for a one-year lease of a crane with payments totaling more than $10,000.They may satisfy the Statute of Frauds by

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The best way to satisfy the statute of frauds in this situation is to set out the terms of the lease agreement in a written memo signed by both parties. This document will serve as evidence that an agreement was made and can be used to enforce the terms of the agreement in court. Mutually agreeing not to commit fraud, repeating the terms in a phone call, or shaking hands on the deal are not sufficient to satisfy the statute of frauds.

Downtown Contractors and Equipment Rental Corporation Are Parties to an Oral