Do contracts for the sale of goods over $500 have to be in writing?
Yes. If the contract involves the sale of goods for $500 or more, then the contract must be in writing to be enforceable. Under the statute of frauds, a contract that involves the sale of goods will be required to be made in writing in order to be enforceable if the price of those goods is over $500.
Below is an example of where a sale of goods for $600 is required to be in writing to be enforceable:
Back To All Questions
You might also be interested in...
-
Do marriage contracts need to be in writing?
Yes, marriage contracts fall under the statute of frauds, which means that they must be in writing. Contracts that offer marriage as part of the consideration in terms of the deal is required to be evidenced in writing. While oral agreements to marriage can still be enforceable, its better to have marriage contracts in writing....
-
What is the statute of frauds?
The statute of frauds stipulates that certain kinds of contracts must be in writing to be enforceable. Under the statute of frauds, the contract must be memorialized in writing, it must be signed by the party to be charged, and there must be sufficient evidence that the contract exists. There are a number of types...
Do marriage contracts need to be in writing?
Yes, marriage contracts fall under the statute of frauds, which means that they must be in writing. Contracts that offer marriage as part of the consideration in terms of the deal is required to be evidenced in writing. While oral agreements to marriage can still be enforceable, its better to have marriage contracts in writing....
What is the statute of frauds?
The statute of frauds stipulates that certain kinds of contracts must be in writing to be enforceable. Under the statute of frauds, the contract must be memorialized in writing, it must be signed by the party to be charged, and there must be sufficient evidence that the contract exists. There are a number of types...
