                                 CODE OF VIRGINIA

CERTAIN CONTRACTS VOID AS TO CREDITORS AND PURCHASERS UNLESS IN WRITING; LAW
GOVERNING VALIDITY OF CONTRACTS CREATING SECURITY INTERESTS (§ 11-1)

Every contract, not in writing, made in respect to real estate or goods and
chattels in consideration of marriage, or made for the conveyance or sale of
real estate, or a term therein of more than five years, and, except as otherwise
provided in § 8.2-402 of the Uniform Commercial Code, every bill of sale or
contract for the sale of goods and chattels when the possession is allowed 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 this section creates a
security interest as defined in the Uniform Commercial Code, its validity and
enforceability shall be governed by the provisions of that Code.

HISTORY: Code 1919, § 5192; 1964, c. 314; 1966, c. 397.