Official Comment 4 to section 2-201 of proposed revision of UCC Article 2 (Abandoned in subsequently approved amendments to UCC Article 2)

Promissory estoppel. The statement of three statutory exceptions to subsection (a) does not preclude the possibility that a promisor will be estopped to raise the statute of frauds defense in appropriate cases. See Revised Section 1-102(b). For example, suppose a farmer orally agrees to delivery 5,000 bushels of corn after harvest to a dealer for $5 per bushel. The dealer resells the corn to a third party for $6 per bushel but neglects to send the farmer a confirmation. Under Section 139 of the Restatement (Second) of Contracts, the farmer may be estopped by the oral promise to deliver that induces reliance by the dealer, especially where the reliance "corroborates evidence of the making and terms of the promise, or the making and terms are otherwise established by clear and convincing evidence." See Section 139(2)(c).