§ 25-2A-201. Statute of frauds.
Part 2.
FORMATION AND CONSTRUCTION OFLEASE CONTRACT.
§ 25‑2A‑201. Statute of frauds.
(1) A lease contract isnot enforceable by way of action or defense unless:
(a) the total paymentsto be made under the lease contract, excluding payments for options to renew orbuy, are less than one thousand dollars ($1,000); or
(b) there is a writing,signed by the party against whom enforcement is sought or by that party'sauthorized agent, sufficient to indicate that a lease contract has been madebetween the parties and to describe the goods leased and the lease term.
(2) Any description ofleased goods or of the lease term is sufficient and satisfies subsection (1)(b)of this section, whether or not it is specific, if it reasonably identifieswhat is described.
(3) A writing is notinsufficient because it omits or incorrectly states a term agreed upon, but thelease contract is not enforceable under subsection (1)(b) of this sectionbeyond the lease term and the quantity of goods shown in the writing.
(4) A lease contractthat does not satisfy the requirements of subsection (1) of this section, butwhich is valid in other respects, is enforceable:
(a) if the goods are tobe specially manufactured or obtained for the lessee and are not suitable forlease or sale to others in the ordinary course of the lessor's business, andthe lessor, before notice of repudiation is received and under circumstancesthat reasonably indicate that the goods are for the lessee, has made either asubstantial beginning of their manufacture or commitments for theirprocurement;
(b) if the party againstwhom enforcement is sought admits in that party's pleading, testimony, orotherwise in court that a lease contract was made, but the lease contract isnot enforceable under this provision beyond the quantity of goods admitted; or
(c) with respect togoods that have been received and accepted by the lessee.
(5) The lease termunder a lease contract referred to in subsection (4) of this section is:
(a) if there is awriting signed by the party against whom enforcement is sought or by thatparty's authorized agent specifying the lease term, the term so specified;
(b) if the party againstwhom enforcement is sought admits in that party's pleading, testimony, orotherwise in court a lease term, the term so admitted;
(c) if there is otherevidence of the parties' intent with regard to the lease term, the term sointended; or
(d) in the absence ofevidence of the parties' intent, a reasonable lease term. (1993,c. 463, s. 1.)