Question

California residents Kate and Jennifer decide to make a "deal": Kate will sell Jennifer her new Dell laptop for $600, a steal since she paid over $1,000 for it. They both feel they've gotten a great deal. Does this agreement need to be in writing, under California law?

Answer 1

Answer:

Yes, because under California law, an agreement for the sale of personal property must be in writing if the amount or value of the property exceeds $500.00

Explanation:

The "Statute of Frauds provisions require a contract written and signed  by the the parties involved in the contract for certain types of contract for such contracts to be binding and enforceable. The Statute of Frauds is applicable to contracts that are likely to be subjected to fraud such as marriage contracts, agreement that lasts over a year, repayment of another person's debt, real estate and sale of goods worth $500 and above.