In business, agreements often start with trust — a handshake or a verbal promise. But when money and goods are involved, especially in New York, relying only on spoken terms can create serious legal problems. This is where written contracts become essential. They don’t just document a deal — they protect your rights if something goes wrong. What is the $500 Rule under NY UCC? Under UCC §2-201, also known as the Statute of Frauds, any contract for the sale of goods priced at $