Discussions in Contracts: Statute of Frauds under UCC § 2-201 Podcast
The topic of this podcast is the basic concepts related Article 2’s statute of frauds. More particularly, we will look at when a contract is governed by § 2-201, the exceptions to the writing requirement of § 2-201, and what type of writing when required is satisfactory. Section 2-201 only applies when there’s a contract for the sale of goods for the price of $500 or more and has many exceptions, such that many contracts can be concluded without a writing. At the conclusion of this podcast you should (1) be able to explain and apply the statute of frauds under § 2-201, in particular that: (i) it applies to contracts for the sale of goods of $500 or more; (ii) when applicable, it requires a writing signed by the party against whom enforcement is sought; and (iii) the writing is sufficient to make the contract enforceable even if it has omissions or misstatements, but not beyond the quantity stated; and (2) be able to articulate the four exceptions to the writing requirement of § 2-201: (i) merchant confirmations; (ii) specially manufactured goods; (iii) admissions; and (iv) goods paid for or received and accepted.