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Contracts Within the Seven Teenth Section


CONTRACTS WITHIN THE SEVEN TEENTH SECTION. The seventeenth section of the Statute of Frauds is as follows: "That no contract for the sale of any goods, wares, and merchandise for the price of to pounds sterling or upwards shall be al lowed to be good, except the buyer shall accept part of the goods so sold and actually receive the same; or give something in earnest to bind the bargain, or in part of payment; or that some note or memorandum in writing of the said bargain be made and signed by the parties to be charged by such contract, or their agents thereunto authorized." This section has also been copied substantially into the statute law of the several States, the amount being usually "$50 or upwards," in stead of "10 pounds sterling."