8.2A-201 - A-201. Statute of Frauds.
§ 8.2A-201. Statute of Frauds.
(1) A lease contract is not enforceable by way of action or defense unless:
(a) The total payments to be made under the lease contract, excludingpayments for options to renew or buy, are less than $1,000; or
(b) There is a writing, signed by the party against whom enforcement issought or by that party's authorized agent, sufficient to indicate that alease contract has been made between the parties and to describe the goodsleased and the lease term.
(2) Any description of leased goods or of the lease term is sufficient andsatisfies subdivision (1) (b) of this section, whether or not it is specific,if it reasonably identifies what is described.
(3) A writing is not insufficient because it omits or incorrectly states aterm agreed upon, but the lease contract is not enforceable under subdivision(1) (b) of this section beyond the lease term and the quantity of goods shownin the writing.
(4) A lease contract that does not satisfy the requirements of subsection (1)of this section, but which is valid in other respects, is enforceable if:
(a) The goods are to be specially manufactured or obtained for the lessee andare not suitable for lease or sale to others in the ordinary course of thelessor's business, and the lessor, before notice of repudiation is receivedand under circumstances that reasonably indicate that the goods are for thelessee, has made either a substantial beginning of their manufacture orcommitments for their procurement;
(b) The party against whom enforcement is sought admits in that party'spleading, testimony or otherwise in court that a lease contract was made, butthe lease contract is not enforceable under this provision beyond thequantity of goods admitted; or
(c) With respect to goods that have been received and accepted by the lessee.
(5) The lease term under a lease contract referred to in subsection (4) ofthis section is:
(a) If there is a writing signed by the party against whom enforcement issought or by that party's authorized agent specifying the lease term, theterm so specified;
(b) If the party against whom enforcement is sought admits in that party'spleading, testimony, or otherwise in court a lease term, the term soadmitted; or
(c) A reasonable lease term.
(1991, c. 536.)