Consumer Law, Warranties Question on contract law for a class

[kbost]

I am taking a contracts law class for coursework to become a paralegal. I am trying to determine if the following contract is covered under the Statute of Frauds for the sale of goods over $500.00. Uncle Bill promised his nephew, George, that if George would quit smoking cigarettes for one year, Uncle Bill would buy George a new Corvette. George quit smoking for a year.

Obviously Uncle Bill now owes a Corvette to George. Did this agreement need to be in writing under the Statute of Frauds? I am assuming that when Uncle Bill actually buys the corvette from a dealer that that transaction will need to be in writing and under the Statute of Frauds.

Thanks for your help!

 

[Michael Wechsler]

This question is probably one dealing with contract law (was there a valid agreement?) as well as the Statute of Frauds. Let me ask you this - wouldn't a new Corvette cost over $500?