Does the agreement to purchase the bicycles for $100 each fall outside the statute of frauds and,thus,would likely be enforceable against Milton?
A)No,because the agreement is for the sale of goods over $500,which is within the statute of frauds and must be in writing.
B)Yes,because the contract can be performed within one year.
C)Yes,because the agreement involved the lease of goods,which need not be in writing.
D)No,because the agreement involved the lease of goods and must be in writing.
E)Yes,because the agreement is for the sale of goods under $500,which need not be in writing.

Question

Quizplus · Accepted Answer

A)Agreements for a sale in which the total price is $500 or more are required by the UCC,Section 2-201,to be recorded in a written contract or a memorandum.The bicycles do not meet the price threshold set by the UCC and therefore fall outside of the statute of frauds.
B)Agreements for a sale in which the total price is $500 or more are required by the UCC,Section 2-201,to be recorded in a written contract or a memorandum.The bicycles do not meet the price threshold set by the UCC and therefore fall outside of the statute of frauds.
C)Agreements for a sale in which the total price is $500 or more are required by the UCC,Section 2-201,to be recorded in a written contract or a memorandum.The bicycles do not meet the price threshold set by the UCC and therefore fall outside of the statute of frauds.
D)Agreements for a sale in which the total price is $500 or more are required by the UCC,Section 2-201,to be recorded in a written contract or a memorandum.The bicycles do not meet the price threshold set by the UCC and therefore fall outside of the statute of frauds.
E)Agreements for a sale in which the total price is $500 or more are required by the UCC,Section 2-201,to be recorded in a written contract or a memorandum.The bicycles do not meet the price threshold set by the UCC and therefore fall outside of the statute of frauds.

Does the Agreement to Purchase the Bicycles for $100 Each