Section 2-A-201. Statute of Frauds

(1)  A  lease  contract is not enforceable by way of action or defense
  unless:
         (a) the total payments to  be  made  under  the  lease  contract,
             excluding payments for options to renew or buy, are less than
             $1,000; or
         (b) there  is  a  writing,  signed  by  the  party  against  whom
             enforcement is sought or by that  party's  authorized  agent,
             sufficient  to  indicate  that a lease contract has been made
             between the parties and to describe the goods leased and  the
             lease term.
    (2) Any description of leased goods or of the lease term is sufficient
  and  satisfies  subsection  (1)(b), whether or not it is specific, if it
  reasonably identifies what is described.
    (3) A writing is not insufficient  because  it  omits  or  incorrectly
  states  a  term  agreed  upon, but the lease contract is not enforceable
  under subsection (1)(b) beyond the lease term and the quantity of  goods
  shown in the writing.
    (4)  A  lease  contract  that  does  not  satisfy  the requirements of
  subsection (1), but which is valid in other respects, is enforceable:
         (a) if the goods are to be specially manufactured or obtained for
             the lessee and are not suitable for lease or sale  to  others
             in  the  ordinary  course  of  the lessor's business, and the
             lessor, before notice of repudiation is  received  and  under
             circumstances that reasonably indicate that the goods are for
             the  lessee, has made either a substantial beginning of their
             manufacture or commitments for their procurement;
         (b) if the party against whom enforcement  is  sought  admits  in
             that  party's pleading, testimony, or otherwise in court that
             a lease contract was made, but  the  lease  contract  is  not
             enforceable under this provision beyond the quantity of goods
             admitted; or
         (c) with respect to goods that have been received and accepted by
             the lessee.
    (5)  The  lease  term under a lease contract referred to in subsection
  (4) is:
         (a) if there is a  writing  signed  by  the  party  against  whom
             enforcement  is  sought  or  by that party's authorized agent
             specifying the lease term, the term so specified;
         (b) if the party against whom enforcement  is  sought  admits  in
             that  party's  pleading,  testimony,  or otherwise in court a
             lease term, the term so admitted; or
         (c) a reasonable lease term.
    (6) A lease contract enforceable  under  this  section  shall  not  be
  rendered  unenforceable by the operation of New York General Obligations
  Law Section 5-701.