Little Goods Store and Major TV Sales Corporation enter into an oral contract for Major's sale to Little of eight DVD players for $100 each. After Little takes possession of the players, but before payment, this contract is

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A contract for the sale of goods can be enforceable whether it is oral or in writing if the price is $500 or less. Since the total price for the eight DVD players (8 x $100) is $800, this contract falls within the scope of the Statute of Frauds (which requires written evidence of certain contracts, including those for the sale of goods over $500). However, the parties have already performed under the contract (Little has taken possession of the players), which is an exception to the Statute of Frauds. Therefore, the contract is enforceable whether it is oral or in writing.

Little Goods Store and Major TV Sales Corporation Enter into an Oral