Does this deal have to be in writing and signed in Wisconsin?
Three separate provisions can require it. Wis. Stat. § 241.02(1) makes void, unless the agreement or a note or memorandum of it expressing the consideration is in writing and subscribed by the party charged, every agreement that by its terms is not to be performed within one year from the making of it, every special promise to answer for the debt, default or miscarriage of another person, and every agreement made upon consideration of marriage other than mutual promises to marry. Chapter 706 governs land: § 706.001(1) provides that, subject to the exclusions in sub. (2), the chapter governs every transaction by which any interest in land is created, aliened, mortgaged, assigned or may otherwise be affected in law or in equity. And Wis. Stat. § 402.201(1) makes a contract for the sale of goods for the price of $500 or more unenforceable by way of action or defence unless there is some writing sufficient to indicate that a contract for sale has been made, signed by the party against whom enforcement is sought or by that party's authorised agent or broker.
The trap
Each provision carries its own carve-outs and they do not line up. Chapter 706 excludes transactions where an interest in land is affected by act or operation of law, by will, by non-probate transfer on death under s. 705.15, or by a lease for a term limited to one year or less (and certain short contracts or options to lease). Section 402.201 is expressly 'except as otherwise provided in this section', and its subsections (2) and (3) let a merchant's confirmation, specially manufactured goods, an admission in pleading or testimony, or payment and acceptance take a contract out of the writing requirement, with the contract still unenforceable beyond the quantity shown in the writing or admitted. Each of those provisions also has its own escape. Subsection (1) of § 241.02 does not apply at all to a marital property agreement complying with ch. 766, and ch. 706 is to be liberally construed in cases of conflict or ambiguity so as to effectuate the intentions of parties who have acted in good faith, so a land transaction that fails the chapter's form is not necessarily the end of the matter. And Wisconsin has a fourth rule aimed at lenders: § 241.02(3)(b) bars an action against a financial institution or its affiliate on a commitment to lend, extend credit, or renew, extend, modify or permit a delay in repayment unless it is in writing setting out relevant terms, signed with an authorised signature and delivered, and § 241.02(3)(c) provides that such a commitment may not be enforced under the doctrine of promissory estoppel. That lender rule has three carve-outs of its own, and the last is the one a borrower will use: the subsection does not apply to credit transactions subject to chs. 421 to 427, nor to any commitment in connection with the issuance or use of a credit card, and it does not prohibit any action or claim under § 100.18 or for fraudulent misrepresentation at common law.
13 authorities
- statuteWis. Stat. § 241.02enactment date not established
The words that state the rule
In the following case every agreement shall be void unless such agreement or some note or memorandum thereof, expressing the consideration, be in writing and subscribed by the party charged therewith: 241.02(1)(a) (a) Every agreement that by its terms is not to be performed within one year from the making thereof. 241.02(1)(b) (b) Every special promise to answer for the debt, default or miscarriage of another person.
- statuteWis. Stat. § 241.02enactment date not established
The words that state the rule
An offer, promise, agreement, or commitment by a financial institution or its affiliate described in par. (b) may not be enforced under the doctrine of promissory estoppel.
- statuteWis. Stat. § 706.001enactment date not established
The words that state the rule
Subject to the exclusions in sub. (2) , this chapter shall govern every transaction by which any interest in land is created, aliened, mortgaged, assigned or may be otherwise affected in law or in equity.
- statuteWis. Stat. § 402.201enactment date not established
The words that state the rule
Except as otherwise provided in this section a contract for the sale of goods for the price of $500 or more is not enforceable by way of action or defense unless there is some writing sufficient to indicate that a contract for sale has been made between the parties and signed by the party against whom enforcement is sought or by the party’s authorized agent or broker.
- statuteWis. Stat. § 241.02enactment date not established
The words that state the rule
Every agreement, promise or undertaking made upon consideration of marriage, except mutual promises to marry.
- statuteWis. Stat. § 241.02enactment date not established
The words that state the rule
No action may be brought against a financial institution or its affiliate on or in connection with any of the following offers, promises, agreements, or commitments of the financial institution or its affiliate unless the offer, promise, agreement, or commitment is in writing, sets forth relevant terms and conditions, and is signed with an authorized signature by the financial institution or its affiliate and delivered to the party seeking to enforce the offer, promise, agreement, or commitment: 241.02(3)(b)1. 1. An offer, promise, agreement, or commitment to lend money, grant or extend credit, or make any other financial accommodation. 241.02(3)(b)2. 2. An offer, promise, agreement, or commitment to renew, extend, modify, or permit a delay in repayment or performance of a loan, extension of credit, or other financial accommodation.
- statuteWis. Stat. § 706.001enactment date not established
The words that state the rule
Excluded from the operation of this chapter are transactions which an interest in land is affected: 706.001(2)(a) (a) By act or operation of law; or 706.001(2)(b) (b) By will; or 706.001(2)(bm) (bm) By nonprobate transfer on death under s. 705.15 ; or 706.001(2)(c) (c) By lease for a term limited to one year or less; or by contract or option to lease for such period which postpones the commencement of the agreed lease to a time not later than 60 days after the date of the contract or option; or by assignment, modification or termination of lease when, at the time such assignment, modification or termination is made, the unexpired term is limited to one year or less, and remains so limited under the lease as modified; except that instruments relating to such excluded transactions, if in recordable form, shall be entitled to record.
- statuteWis. Stat. § 402.201enactment date not established
The words that state the rule
A writing is not insufficient because it omits or incorrectly states a term agreed upon but the contract is not enforceable under this subsection beyond the quantity of goods shown in such writing.
- statuteWis. Stat. § 402.201enactment date not established
The words that state the rule
Between merchants if within a reasonable time a writing in confirmation of the contract and sufficient against the sender is received and the party receiving it has reason to know its contents, it satisfies the requirements of sub. (1) against such party unless written notice of objection to its contents is given within 10 days after it is received.
- statuteWis. Stat. § 402.201enactment date not established
The words that state the rule
A contract which does not satisfy the requirements of sub. (1) but which is valid in other respects is enforceable: 402.201(3)(a) (a) If the goods are to be specially manufactured for the buyer and are not suitable for sale to others in the ordinary course of the seller’s business and the seller, before notice of repudiation is received and under circumstances which reasonably indicate that the goods are for the buyer, has made either a substantial beginning of their manufacture or commitments for their procurement; or 402.201(3)(b) (b) If the party against whom enforcement is sought admits in that party’s pleading, testimony or otherwise in court that a contract for sale was made, but the contract is not enforceable under this paragraph beyond the quantity of goods admitted; or 402.201(3)(c) (c) With respect to goods for which payment has been made and accepted or which have been received and accepted
- statuteWis. Stat. § 241.02enactment date not established
The words that state the rule
Subsection (1) does not apply to a marital property agreement complying with ch. 766 .
- statuteWis. Stat. § 241.02enactment date not established
The words that state the rule
This subsection does not apply to credit transactions that are subject to chs. 421 to 427 . 241.02(3)(e) (e) This subsection does not apply to any offer, promise, agreement, or commitment by a financial institution or its affiliate in connection with the issuance or use of a credit card, as defined in s. 421.301 (15) , whether or not subject to chs. 421 to 427 . 241.02(3)(f) (f) This subsection does not prohibit any action or claim under s. 100.18 or for fraudulent misrepresentation under common law.
- statuteWis. Stat. § 706.001enactment date not established
The words that state the rule
This chapter shall be liberally construed, in cases of conflict or ambiguity, so as to effectuate the intentions of parties who have acted in good faith.
“Defective” means that reading found something to correct. What you are reading is the rule as it stands after that reading.