1.Daniel is the CEO of Pan-American Films, Inc., which produces Spanish-language motion pictures for release in the North American market.Pan-American needs to buy custom camera equipment for some of the filming involved in its latest motion picture project.Pan-American publishes a request for bids in several trade papers in the motion picture industry, including a list of its custom specifications and requirements for the camera equipment and soliciting bids from parties capable of providing the camera equipment. Interested parties are to submit bids to Daniel's attention.Six interested parties submit conforming bids to Daniel's attention by the bid deadline.

a.Did the solicitation of bids constitute an offer? Why or why not? If the solicitation of bids did not constitute an offer, when was an offer made pursuant to these facts, and who made the offer?

b.Now, assume that Jude's Custom Camera Works, Inc. submitted the lowest-priced conforming bid for supplying the custom camera equipment (a bid of $12,500 per camera, with varying prices for ancillary equipment).Was there offer and acceptance when Jude's Custom Camera Works submitted the lowest bid?If not, what action must take place for there to be offer and acceptance between Pan-American and Jude's Custom Camera Works?

c.Must any contract between Pan-American and Jude's Custom Camera Works be in writing?Why or why not?

2.List and briefly describe the types of agreements that must be in writing according to the Statute of Frauds.What is the result if a contract violates the Statute of Frauds? What special provisions does the UCC provide with respect to oral contracts made by merchants?