Statute of Frauds Generally Inapplicable

Section 8--113. Statute of Frauds Generally Inapplicable.\n (a) Except as provided in subsection (b), a contract or modification\nof a contract for the sale or purchase of a security is enforceable\nwhether or not there is a writing signed or record authenticated by a\nparty against whom enforcement is sought, even if the contract or\nmodification is not capable of performance within one year of its\nmaking.\n (b) A contract or modification of a contract for the sale or purchase\nof a cooperative interest is void unless the contract or some note or\nmemorandum thereof, expressing the consideration, is in writing,\nsubscribed by the party to be charged, or by his lawful agency thereunto\nauthorized by writing.\n