For a lease under Article 2A, which elements must a writing include to satisfy the Statute Frauds?

For a lease under Article 2A, which elements must a writing include to satisfy the Statute Frauds?

• A. State it's a lease; quantity; duration; rental payments; signed by ∆
• B. Quantity; duration; rental payments; signed by ∆
• C. State it's a lease; quantity; price; signature
• D. State it's a lease; quantity; duration; rental payments; signed by both parties

Answer: (D)

Under Article 2A, the Statute of Frauds requires a writing that clearly shows a lease of goods has been made and includes essential terms so the contract can be identified and enforced. The writing should state that it is a lease, specify the goods by quantity, spell out the duration of the lease, and set forth the rental payments. To satisfy the signing requirement, the writing should be signed by the party against whom enforcement is sought, and in practice having both parties sign provides the strongest evidence of mutual assent and makes enforcement straightforward. That combination—stating it’s a lease, listing the quantity of goods, the lease duration, the rental payments, and being signed by both parties—best ensures the writing meets the Statute of Frauds and avoids disputes about what was agreed or who is bound.

Under Article 2A, the Statute of Frauds requires a writing that clearly shows a lease of goods has been made and includes essential terms so the contract can be identified and enforced. The writing should state that it is a lease, specify the goods by quantity, spell out the duration of the lease, and set forth the rental payments. To satisfy the signing requirement, the writing should be signed by the party against whom enforcement is sought, and in practice having both parties sign provides the strongest evidence of mutual assent and makes enforcement straightforward. That combination—stating it’s a lease, listing the quantity of goods, the lease duration, the rental payments, and being signed by both parties—best ensures the writing meets the Statute of Frauds and avoids disputes about what was agreed or who is bound.