Brenda and BSF were in an agreement together. BSF agreed to buy all of Brenda's shrimp. The price of the shrimp is determined by the market at the time of delivery to BSF. A representative of BSF stated that he believed that last week's price for the shrimp would hold. BSF paid a lower price than the previous week. The value of the shrimp was far in excess of $500. Brenda raised a judicial admission exception to the Statute of Frauds.

Which laws are applicable and how should the court rule?