A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making.
Ala. Code § 7-8-113
Statute of Frauds Inapplicable.
Known as the Uniform Commercial Code
The act spans §§ 7–7 (703 sections).
(Acts 1996, No. 96-742, p. 1241, §1.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.