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 (1) year of its making.
Statute of frauds inapplicable
Ark. Code Ann. § 4-8-113 — under — Short Title and General Matters.
Ark. Code Ann. § 4-8-113