Equipment Rental Corporation and Floodlights,Inc.,are parties to an oral agreement for a lease of goods with payments in excess of $10,000.They may satisfy the Statute of Frauds by

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To satisfy the Statute of Frauds, an agreement for a lease of goods with payments in excess of $10,000 must be in writing. Setting out the terms in an email would create a written record of the agreement and satisfy the requirement. Mutually agreeing not to commit fraud or shaking hands on the deal would not satisfy the Statute of Frauds, and restating the terms in a phone call would not create a written record.