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15-SoF (Provisions (One-year (Cannot be performed within one year (Needs…
15-SoF
Provisions
One-year
Cannot be performed within one year
Needs writing
Does not apply to short-term leases
Timing
Year starts from time agreement is made
Not when performance starts
Exceptions(Outside SoF)
Possibility Test
Possible to be performed in one year
Writing is not needed
Full Performance
Writing is not needed
Land
Transfer of rights
Exceptions(Outside SoF)
Part performance AND detrimental reliance
Seller conveys property
Sale of Goods
$500 or more (within SoF)
Exception(Outside SoF)
Admission
Specially Manufactured
Buyer repudiate before manufacturing
Within SoF
Need writing
Buyer repudiate after manufacturing
Do not need writing
Outside SoF
Delivery/Payment and Acceptance
Downpayments
Outside SoF
Modifications/Rescission
Unenforceable if resulting K is within SoF
Within
K need to be in writing to be enforceable
General K Law
Writing must include
Parties
Subject matter
Signed by party charged
Usually defendant
Parol Evidence Rule
Written K > Oral K