Section 440.1206 - Statute of frauds as to personal property not otherwise covered.
UNIFORM COMMERCIAL CODE (EXCERPT)
Act 174 of 1962
440.1206 Statute of frauds as to personal property not otherwise covered.
Sec. 1206.
(1) Except in the cases described in subsection (2) of this section, a contract for the sale of personal property is not enforceable by way of action or defense beyond $5,000.00 in amount or value of remedy unless there is some writing which indicates that a contract for sale has been made between the parties at a defined or stated price, reasonably identifies the subject matter, and is signed by the party against whom enforcement is sought or by his or her authorized agent.
(2) Subsection (1) of this section does not apply to contracts for the sale of goods (section 2201) nor of securities (section 8113) nor to security agreements (section 9203).
History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1998, Act 278, Imd. Eff. July 27, 1998