Question

Which of the following contracts must be in writing to be enforceable?​ a. ​a contract for the sale of a horse for $425 b. ​a contract for the sale of an easement for $375 c. ​a contract for $550 for binding books d. ​a contract for services from April 1, 2015 through December 15, 2016

Answer 1

Answer:

C) ​a contract for $550 for binding books

Explanation:

UCC rules state that contracts sales or lease contracts must be in writing only when:

1. the contract for the sale of goods must be worth at least $500 (only the contract for bindings books is worth more than $500)
2. leasing contracts worth at east $1,000
3. include agreements that create a security interest, e.g. collateral for a loan.

*If the parties involved are merchants, this rules might vary.