Question

Suppose that instead of leasing the Accord, Nigel decides to buy the Honda Accord for $22,180. Would this contract need to be in writing to be enforceable?

Answer 1

L

Answer:

yes, pursuant to UCC, Section 2-201

Explanation:

Statute of frauds is a provision that requires certain transactions be in writing. This is usually based on the amount involved in the transaction.

In the given scenario according Section 2-201 of the UCC a contract that is above $500 should not be entered unless there is a written contract.

An oral contract won't suffice In this case.