16 . During the examination of the financial statements of the Wilbur Watch Company, the following* problem was discovered . In Januaryis, Carey , and of Wilbur's salesmen , called upon Ferry, the Vice president of purchasing for Kenon Department Stores . HE showed Percy the new line of plastic watches with large , bright- colored faces . Ferry ordered 150 watches from IS to { ZO Rach at a total cost of $ 1, 4 75. Delivery was to be made not later than March 15. Corey wrote the orders in his ander book as Percy orally indicated the quantity of each watch he desired . NeithEr party signed anything . Corey prompt\\ " submitted the {`Enon Department Stores" order to the sales department of Wilbur Watch Company. The next day the Order Was recorded and a memorandum was Sent to {Enon Department Stores , in care of Ferry . The* memorandum described the transaction , indicated the number and prices of the watches purchased and was signed by GA. Williams, Vice president of marketing . However , the total price and delivery TERITS WETE ETTOREOUSLY Omitted . Percy received the memo on January 20 . HE read it and placed it in his goods - an - order file . In February 20 , the market for plastic watches collapsed Percy promptly notified Wilbur Watch Company by phone that Kenan Department Stores was not interested in the plastic watches and would refuse delivery . Wilbur Watch Company Store sued {enon Department Stores to recover damages for breach of contract . Kenon Department Stores contends !' ! ) there is no contract and ( 2 ) if there was a Contract it is unenforceable under the Stature of Frauds . Will Wilbur Watch Company prevail in its action against GETOn LIEpartment Stores ?" Explain