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Q: Identify two types of transactions which requires specialty contracts?
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What requires contracts for sale of goods over 500 or more to be in writing?

The law requires contracts over 500 to be in writing.


Are verbal contracts binding in Arizona?

Oral contracts can be enforced in Arizona. But the contract cannot violate the statute of frauds which requires certain contracts to be in writing.


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The Statute of Frauds provides that contracts for the sale of land must be in writing.


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