Michelle owned a building which she orally contracted to sell toColleen, who was to...

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Accounting

Michelle owned a building which she orally contracted to sell toColleen, who was to remove it from its concrete foundation, put iton skids, and drag it away. Before removal, Michelle repudiated thedeal. Michelle defends her action by asserting the statute offrauds. (The statute of frauds provisions specify which contractsmust be in writing in order to be enforceable). Was this a contractfor land or for a good? Does the statute of frauds section ofArticle 2 apply to this contract? See UCC § 2-105 and §2-107(1).

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Statute of Frauds under UCC 2201 Section 2201 only applies when theres 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 Remember that Article 2 applies to all sales transactions not just ones with merchants Where applicable 2201 requires i written evidence indicating that a contract for sale has been made and ii the writing must be signed by the party against whom enforcement is sought Under 2201 though a writing is not insufficient even if it omits or incorrectly states a term agreed upon by the parties However such an incorrect writing is not enforceable beyond the quantity of goods shown in the writing There are four exceptions to the writing requirement See Answer

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In: AccountingMichelle owned a building which she orally contracted to sell toColleen, who was to remove...Michelle owned a building which she orally contracted to sell toColleen, who was to remove it from its concrete foundation, put iton skids, and drag it away. Before removal, Michelle repudiated thedeal. Michelle defends her action by asserting the statute offrauds. (The statute of frauds provisions specify which contractsmust be in writing in order to be enforceable). Was this a contractfor land or for a good? Does the statute of frauds section ofArticle 2 apply to this contract? See UCC § 2-105 and §2-107(1).