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Figure 13.1CONTRACT FOR SALE OF GOODSAGREEMENT made by and between Ozzie Caldwell (Seller) and Geordi Hasenzahl (Buyer).It has been agreed between the two parties that:1. Seller agrees to sell, and buyer agrees to buy the following described property: oneregulation-size pool table now located at the residence of Ozzie Caldwell, RD #1,Box 118, Ashberry, Kentucky.2. Buyer agrees to pay Seller the total price of $850.00, payable as follows: $600.00 depositherewith and $250.00 balance by cash or certified check at time of transfer.3. Seller warrants he has full legal title to said property, authority to sell said property, andthat said property shall be sold free and clear of all claims by other parties.4. Said property is sold in “as is” condition. Seller hereby excludes thewarranty of merchantability and fitness for a particular purpose.5. Parties agree to transfer title on February 7, 20--, at RD #1, Box 118, Ashberry,Kentucky, the address of the seller.6. This agreement shall be binding on all parties, their successors, assigns, and personalrepresentatives.7. This writing is intended to represent the entire agreement between the parties.Signed under seal this nineteenth day of January, 20--.BuyerSellerparties or businesspeople. As long as the price is less than $500, anoral contract for the sale of goods is enforceable. If the price is $500or more, a sales contract must be in writing to be enforceable (seeFigure 13.1). This rule, however, does not apply when:l A written confirmation of an oral contract between two merchantsis sent within a reasonable time, and no objection is made within10 days.l The contract involves specially manufactured goods that cannotbe resold easily.FORMAL WRITINGUNNECESSARYAny writing signed by theparty against whomenforcement is sought willsatisfy the writing requirement.This would includewords on a check, a pieceof scrap paper, or even anapkin. Would skywritingby an airplane pilot satisfythe writing requirementsof the UCC?Chapter 13: Contracts for the Sale of Goods 273