Book Opener

Contracts for Sale of Goods of $500 or MoreA contract for the sale of goods for the price of $500 or more mustbe in writing to be enforceable. Goods consist of movable items,including specially manufactured items. Furniture, books, livestock,cultivated crops, clothing, automobiles, and personal effects of any kindare considered goods.Example 6. Al Jaworski agreed to buy a motorcycle from hisfriend, Evan Allard, for $950. This agreement was not in writing.A short time later, Al changed his mind and told Evan he didn’twant to buy the motorcycle. The agreement was not enforceablebecause there was no written contract. There are four exceptionsto this rule, which will be explained in Chapter 13.According to the UCC, a writing is sufficientif it indicates that a contract for sale hasbeen made between the parties and it is signedby the party (or his or her representative)against whom enforcement is sought. TheUCC does not require that all the terms of thecontract be in writing (or even that they bestated accurately).Contracts to SellReal PropertyContracts for the sale of real propertymust be in writing to be enforceable. Realproperty is land and anything permanentlyattached to it. One important contract for realproperty that you may enter into is the contractto buy or sell a home. The contract ofsale, sometimes called a purchase and saleagreement, consists of an offer by the buyerand an acceptance by the seller. The purchaseand sale agreement must also contain theother elements of a contract.CONTRACTS IN WRITINGContracts for the sale of goods costing$500 or more must be in writing to beenforceable. Would the purchase of a bikeon sale for $499 require a written contractif the bike’s original price was $550?Chapter 10: Form of the Contract 213