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.
Ohio Rev. Code Ann. § 1308.07
Statute of frauds inapplicable - UCC 8-113
Applied in 1 court decision — leading case Carcorp, Inc. v. Chesrown Oldsmobile—GMC Truck, Inc. (2004)
Most recently applied in Carcorp, Inc. v. Chesrown Oldsmobile—GMC Truck, Inc. (November 2004)
Effective: January 1, 1998; Latest Legislation: House Bill 170 - 122nd General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.