14. Which of the following statements best describes the Statute of Frauds under the UCC? A. B. The UCC does not contain any provision concerning the Statute of Frauds. The UCC contains a Statute of Frauds, but the requirement is only applicable when both the buyer and the seller are merchants and the price of the goods exceed $1,000. C. is a merchant. The UCC contains a Statute of Frauds, but the requirement is only applicable if the seller D. The UCC contains a Statute of Frauds provision, but contains some exceptions. 15. Which of the following statements best describes a firm offer under the UCC? A. price of goods. B. A firm offer is a type of offer in which the buyer will not consider any reduction in the A firm offer requires that a merchant buyer pay a buyer's premium for an offer to remain open for 30 days. C. terminology. D. A firm offer is the same as an option contract. The UCC, however, uses different An offer in writing by a merchant that is irrevocable for a period of time. 16. A Which of the following type of damages is generally not awarded in a breach of contract claim? Punitive damages B. Consequential damages C Compensatory damages D. Liquidated damages 17. Which of the following situations would not result in contractual duties being discharged by operation of law? Frustration of Purpose A. B. Bankruptcy C Unilateral Mistake D. Impossibility of Performance I