A contract is an agreement enforceable by law and there are two sources of contract

law: common law of contracts and state statutory law governing sales and lease

transactions pursuant to the Uniform Commercial Code $($UCC$).$ The goal of the UCC was

to simplify and streamline commercial business transactions. Businesses look to the UCC

when contract law conflicts arise instead of having to "run to the courthouse" to resolve

disputes.

Distinguish between Article $2$ of the UCC, Article $2$A and common law when it

comes to the essential elements of a contract, that is$,$ offer, acceptance and

consideration. Be sure to define and explain these terms.

In what way is the UCC Statute of Frauds provision relevant when deciding

whether parol evidence is admissible? Explain your answer.