California Commercial Code 8113 – A contract or modification of a contract for the sale or purchase of …
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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.
(Added by Stats. 1996, Ch. 497, Sec. 9. Effective January 1, 1997.)
Terms Used In California Commercial Code 8113
- Contract: A legal written agreement that becomes binding when signed.
- contract: means the bargain of the parties in fact, as found in their language or inferred from other circumstances, including course of performance, course of dealing, or usage of trade as provided in Section 1303. See California Commercial Code 1201
- Purchase: means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or any other voluntary transaction creating an interest in property. See California Commercial Code 1201
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See California Commercial Code 1201
- Writing: includes printing, typewriting, or any other intentional reduction to tangible form. See California Commercial Code 1201