11-1 - Certain contracts void as to creditors and purchasers unless in writing; law governing validity of contracts creating security interests. - Virginia Statutes

§ 11-1. Certain contracts void as to creditors and purchasers unless inwriting; law governing validity of contracts creating security interests.

Every contract, not in writing, made in respect to real estate or goods andchattels in consideration of marriage, or made for the conveyance or sale ofreal estate, or a term therein of more than five years, and, except asotherwise provided in § 8.2-402 of the Uniform Commercial Code, every bill ofsale or contract for the sale of goods and chattels when the possession isallowed to remain with the seller, shall be void, both at law and in equity,as to purchasers for value and without notice and creditors; provided,however, that if any such contract or bill of sale as is mentioned in thissection creates a security interest as defined in the Uniform CommercialCode, its validity and enforceability shall be governed by the provisions ofthat Code.

(Code 1919, § 5192; 1964, c. 314; 1966, c. 397.)