A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record authenticated by a party against whom enforcement is sought, even if the contract or modification is not capable of performance within one year of its making.

Terms Used In Arizona Laws 47-8113

  • Contract: A legal written agreement that becomes binding when signed.
  • Security: except as otherwise provided in section 47-8103, means an obligation of an issuer or a share, participation or other interest in an issuer or in property or an enterprise of an issuer:

    (a) Which is represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer;

    (b) Which is one of a class or series or by its terms is divisible into a class or series of shares, participations, interests or obligations; and

    (c) Which:

    (i) Is, or is of a type, dealt in or traded on securities exchanges or securities markets; or

    (ii) Is a medium for investment and by its terms expressly provides that it is a security governed by this chapter. See Arizona Laws 47-8102

  • Writing: includes printing. See Arizona Laws 1-215
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