The Florida Senate

678.319  Statute of frauds.--A contract for the sale of securities is not enforceable by way of action or defense unless:

(1)  There is some writing signed by the party against whom enforcement is sought or by her or his authorized agent or broker, sufficient to indicate that a contract has been made for sale of a stated quantity of described securities at a defined or stated price;

(2)  Delivery of a certificated security or transfer instruction has been accepted, or transfer of an uncertificated security has been registered and the transferee has failed to send written objection to the issuer within 10 days after receipt of the initial transaction statement confirming the registration, or payment has been made, but the contract is enforceable under this provision only to the extent of the delivery, registration, or payment;

(3)  Within a reasonable time a writing in confirmation of the sale or purchase and sufficient against the sender under subsection (1) has been received by the party against whom enforcement is sought and she or he has failed to send written objection to its contents within 10 days after its receipt; or

(4)  The party against whom enforcement is sought admits in her or his pleading, testimony, or otherwise in court that a contract was made for the sale of a stated quantity of described securities at a defined or stated price.

History.--s. 1, ch. 65-254; s. 1, ch. 87-275; s. 670, ch. 97-102.

Note.--s. 8-319, U.C.C.