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?

Question

asked Oct 16, 2022 55.6k views

1 Answer

Jhonatan Sabadi · Answer 1 · 2022-10-20T09:24:52+0000

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Answer:

yes, pursuant to UCC, Section 2-201

Step-by-step 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.