{"data":{"id":"us-ky/krs-355.2a-201","jurisdiction":"us-ky","citation":"KRS 355.2A-201","heading":"Statute of frauds.","body":"(1) A lease contract is not enforceable by way of action or defense unless:\n(a) The total payments to be made under the lease contract, excluding payments\nfor options to renew or buy, are less than five hundred dollars ($500); or\n(b) There is a record, signed by the party against whom enforcement is sought or\nby that party's authorized agent, sufficient to indicate that a lease contract has\nbeen made between the parties and to describe the goods leased and the lease\nterm.\n(2) Any description of leased goods or of the lease term is sufficient and satisfies\nsubsection (1)(b) of this section, whether or not it is specific, if it reasonably\nidentifies what is described.\n(3) A record is not insufficient because it omits or incorrectly states a term agreed\nupon, but t he lease contract is not enforceable under subsection (1)(b) of this\nsection beyond the lease term and the quantity of goods shown in the record.\n(4) A lease contract that does not satisfy the requirements of subsection (1) of this\nsection, but which is valid in other respects, is enforceable:\n(a) If the goods are to be specially manufactured or obtained for the lessee and\nare not suitable for lease or sale to others in the ordinary course of the lessor's\nbusiness, and the lessor, before notice of repudiati on is received and under\ncircumstances that reasonably indicate that the goods are for the lessee, has\nmade either a substantial beginning of their manufacture or commitments for\ntheir procurement;\n(b) If the party against whom enforcement is sought admits  in that party's\npleading or testimony, or otherwise, in court that a lease contract was made,\nbut the lease contract is not enforceable under this provision beyond the\nquantity of goods admitted; or\n(c) With respect to goods that have been received and accepted by the lessee.\n(5) The lease term under a lease contract referred to in subsection (4) of this section is:\n(a) If there is a record signed by the party against whom enforcement is sought or\nby that party's authorized agent specifying the lease term, the term so\nspecified;\n(b) If the party against whom enforcement is sought admits in that party's\npleading or testimo ny, or otherwise, in court a lease term, the term so\nadmitted; or\n(c) A reasonable lease term.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55639","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:43Z","sha256":"3e6ed46227490d49286bf85bf1821bf6f16584451474dd94266d468c94904001","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.2a-110","next":"us-ky/krs-355.2a-202"},"notice":"GroundRules: Original legal text. Not legal advice."}