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Section 2-201(1) PROBLEM 3-1(1)

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Presentation on theme: "Section 2-201(1) PROBLEM 3-1(1)"— Presentation transcript:

1 Section 2-201(1) PROBLEM 3-1(1)
§ Formal Requirements; Statute of Frauds. (1) Except as otherwise provided in this section a contract for the sale of goods for the price of $500 or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by his authorized agent or broker. A writing is not insufficient because it omits or incorrectly states a term agreed upon but the contract is not enforceable under this paragraph beyond the quantity of goods shown in such writing Copyright © 2018 Carolina Academic Press. All rights reserved.

2 Statute of Frauds Section 2-201(1) PROBLEM 3-1(1)
§ Formal Requirements; Statute of Frauds. (1) Except as otherwise provided in this section a contract for the sale of goods for the price of $500 or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by his authorized agent or broker. A writing is not insufficient because it omits or incorrectly states a term agreed upon but the contract is not enforceable under this paragraph beyond the quantity of goods shown in such writing Copyright © 2018 Carolina Academic Press. All rights reserved.

3 Statute of Frauds Section 2-201(1) PROBLEM 3-1(2)
§ Formal Requirements; Statute of Frauds. (1) Except as otherwise provided in this section a contract for the sale of goods for the price of $500 or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by his authorized agent or broker. A writing is not insufficient because it omits or incorrectly states a term agreed upon but the contract is not enforceable under this paragraph beyond the quantity of goods shown in such writing Copyright © 2018 Carolina Academic Press. All rights reserved.

4 Statute of Frauds Section 2-201(1) PROBLEM 3-1(3)
§ Formal Requirements; Statute of Frauds. (1) Except as otherwise provided in this section a contract for the sale of goods for the price of $500 or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by his authorized agent or broker. A writing is not insufficient because it omits or incorrectly states a term agreed upon but the contract is not enforceable under this paragraph beyond the quantity of goods shown in such writing Copyright © 2018 Carolina Academic Press. All rights reserved.

5 Section 2-201 Official Comment PROBLEM 3-1(3)
1. The required writing need not contain all the material terms of the contract and such material terms as are stated need not be precisely stated. All that is required is that the writing afford a basis for believing that the offered oral evidence rests on a real transaction. It may be written in lead pencil on a scratch pad. It need not indicate which party is the buyer and which the seller. The only term which must appear is the quantity term which need not be accurately stated but recovery is limited to the amount stated. The price, time and place of payment or delivery, the general quality of the goods, or any particular warranties may all be omitted. 6. It is not necessary that the writing be delivered to anybody. … Copyright © 2018 Carolina Academic Press. All rights reserved.

6 Section 2-201 Official Comment PROBLEM 3-1(4)
1. The required writing need not contain all the material terms of the contract and such material terms as are stated need not be precisely stated. All that is required is that the writing afford a basis for believing that the offered oral evidence rests on a real transaction. It may be written in lead pencil on a scratch pad. It need not indicate which party is the buyer and which the seller. The only term which must appear is the quantity term which need not be accurately stated but recovery is limited to the amount stated. The price, time and place of payment or delivery, the general quality of the goods, or any particular warranties may all be omitted. 6. It is not necessary that the writing be delivered to anybody. Copyright © 2018 Carolina Academic Press. All rights reserved.

7 REVIEW Official Comment 1
Only three definite and invariable requirements as to the memorandum are made by this subsection. Copyright © 2018 Carolina Academic Press. All rights reserved.

8 REVIEW Official Comment 1
Only three definite and invariable requirements as to the memorandum are made by this subsection. First, it must evidence a contract for the sale of goods; Copyright © 2018 Carolina Academic Press. All rights reserved.

9 REVIEW Official Comment 1
Only three definite and invariable requirements as to the memorandum are made by this subsection. First, it must evidence a contract for the sale of goods; second, it must be “signed,” a word which includes any authentication which identifies the party to be charged; Copyright © 2018 Carolina Academic Press. All rights reserved.

10 REVIEW Official Comment 1
Only three definite and invariable requirements as to the memorandum are made by this subsection. First, it must evidence a contract for the sale of goods; second, it must be “signed,” a word which includes any authentication which identifies the party to be charged; and third, it must specify a quantity. Copyright © 2018 Carolina Academic Press. All rights reserved.

11 Copyright © 2018 Carolina Academic Press. All rights reserved.
The set of 399 slides is available up on adoption. If you are a professor using this book for a class, please contact Beth at to request your slides. Copyright © 2018 Carolina Academic Press. All rights reserved.


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