2006 New York Code - Formal Requirements; Statute Of Frauds.



 
  Section 2--201. Formal Requirements; Statute of Frauds.
    (1)  Except  as  otherwise provided in this section a contract for the
  sale of goods for the price of $500 or more is not enforceable by way of
  action or defense unless there is some writing  sufficient  to  indicate
  that a contract for sale has been made between the parties and signed by
  the  party against whom enforcement is sought or by his authorized agent
  or broker. A writing is not insufficient because it omits or incorrectly
  states a term agreed upon but the contract is not enforceable under this
  paragraph beyond the quantity of goods shown in such writing.
    (2) Between merchants  if  within  a  reasonable  time  a  writing  in
  confirmation  of  the  contract  and  sufficient  against  the sender is
  received and the party receiving it has reason to know its contents,  it
  satisfies  the  requirements of subsection (1) against such party unless
  written notice of objection to its contents is  given  within  ten  days
  after it is received.
    (3)  A  contract which does not satisfy the requirements of subsection
  (1) but which is valid in other respects is enforceable
         (a) if the goods are to be specially manufactured for  the  buyer
             and  are  not  suitable  for  sale  to others in the ordinary
             course of the seller's business and the seller, before notice
             of repudiation is  received  and  under  circumstances  which
             reasonably  indicate  that  the  goods are for the buyer, has
             made either a substantial beginning of their  manufacture  or
             commitments for their procurement; or
         (b) if the party against whom enforcement is sought admits in his
             pleading, testimony or otherwise in court that a contract for
             sale was made, but the contract is not enforceable under this
             provision beyond the quantity of goods admitted; or
         (c) with  respect  to  goods  for which payment has been made and
             accepted or which have been received  and  accepted  (Section
             2--606).
    (4) Subsection one does not apply to a qualified financial contract as
  that  term is defined in paragraph two of subdivision b of section 5-701
  of the general obligations law if either (a) there is,  as  provided  in
  paragraph  three  of  subdivision  b  of  section  5-701  of  such  law,
  sufficient evidence to indicate that a contract has been made or (b) the
  parties thereto, by means of a prior  or  subsequent  written  contract,
  have  agreed  to  be  bound  by  the  terms  of such qualified financial
  contract from the time they reach agreement (by telephone,  by  exchange
  or electronic messages, or otherwise) on those terms.

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