Asked by
Lorainediane Perez
on Nov 29, 2024
Verified
The UCC permits an oral agreement for the sale of goods to be enforced against a party who admits to the contract in court, even though the statute of frauds requires the agreement in writing.
Oral Agreement
A contract or agreement made through spoken words rather than written documentation, which may still be legally binding.
Admits to the Contract
The act of acknowledging or affirming one's acceptance of the terms and conditions of a contract, making it legally binding.
UCC
stands for the Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.
- Understand the circumstances in which verbal agreements can be legally binding notwithstanding the statute of frauds.
Verified Answer
AH
Learning Objectives
- Understand the circumstances in which verbal agreements can be legally binding notwithstanding the statute of frauds.