About Law (U.C.C) <Which Article, part and section/subsection of the U.C.C dictates that ...>?

Question

Which Article, part and section/subsection of the U.C.C dictates that a contract for the sale of goods over $50.000 must be in writing?

Answer 1

In the United States, contracts for the sale of goods where the price equals $500.00 or more (with the exception of professional merchants performing their normal business transactions, or any custom-made items designed for one specific buyer) fall under the statute of frauds under the Uniform Commercial Code (article 2, section 201) [1]. The most recent revision of UCC § 2-201 increases the triggering point for the UCC Statute of Frauds to $5,000, but as of 2006 no U.S. state has adopted revised Section 201.

The $50,000 is for loans.

See http://en.wikipedia.org/wiki/Statute_of_frauds#Uniform_Commercial_Code