Development Corporation and Equipment Rental,Inc.,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 Statute of Frauds requires that contracts for the lease of goods valued over $10,000 be in writing. Therefore, to satisfy the statute of frauds, the parties must set out the terms in a memo or contract. The other options, such as agreeing not to commit fraud, repeating terms in a phone call, or shaking hands on the deal, do not satisfy the statute of frauds requirement for a written agreement.