Answer True or Flase for the following:

1. If the subject of a sale is goods, Article 2 of the UCC applies.

2. A contract for a sale of goods is subject to the same traditional principles that apply to all contracts.

3. If the subject of a transaction is a service, Article 2 of the UCC applies.

4. The UCC requires that an agreement modifying a contract be supported by new consideration to be binding.

5. Under the UCCs Statute of Frauds, a writing must include all material terms except quantity.

6. Under certain circumstances, an oral contract for a sale of goods priced at $500 or more can be enforceable despite the absence of a writing.

7. A lease agreement is a bargain between a lessor and a lessee, as shown by their words and conduct.