When must the sale of goods be in writing?
If the item(s) is worth $500 or more.
The sale of goods must be in writing in the following circumstances:
1. Sale of real estate: If the goods in question are related to the sale of real estate, such as fixtures or land, the sale must be in writing.
2. Sale of goods over $500: The sale of goods worth $500 or more must be in writing in accordance with the Statute of Frauds.
3. Sale of securities: The sale of stocks or other securities must be in writing.
4. Sale of intangible goods: If the goods in question are intangible, such as patents or copyrights, the sale must be in writing.
5. Sale of goods for future delivery: If the sale is for future delivery, such as pre-ordering a product not yet released, the sale must be in writing to ensure that all terms and conditions are clear.
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