Boris offers to sell either of his bikes, red or blue, to Saks for $1,000 on a Monday, to which Saks agrees. On the second Monday of the month, Saks asks Boris to sell his red bike for $1,000. It is a valid contract according to the UCC.

Question

Quizplus · Accepted Answer

According to the UCC, a contract for the sale of goods for a price of $500 or more is enforceable without a writing. In this case, the contract between Boris and Saks for the sale of the bike for $1,000 satisfies this requirement. Therefore, the contract for the sale of the red bike for $1,000 on the second Monday of the month is valid and enforceable.

Boris Offers to Sell Either of His Bikes, Red or Blue