KRS 355.2A-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 five hundred dollars ($500); or

(b) There is a record, 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) of this section, whether or not it is specific, if it reasonably

identifies what is described.

(3) A record is not insufficient because it omits or incorrectly states a term agreed

upon, but t he lease contract is not enforceable under subsection (1)(b) of this

section beyond the lease term and the quantity of goods shown in the record.

(4) A lease contract that does not satisfy the requirements of subsection (1) of this

section, 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 repudiati on 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 or 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) of this section is:

(a) If there is a record 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 or testimo ny, or otherwise, in court a lease term, the term so

admitted; or

(c) A reasonable lease term.