Son D'Oro Party Co. is an entertainment company that provides music services in connection with events. Son D'Oro Party Co is in need of a top-tier vocalist to perform live at the upcoming wedding reception of some very high-profile clients, Ms. Dot Rump and Mr. Amir Poutine. When Son D'Oro Party Co's managers learn that the great opera singer Morsaratti has just returned home from a world tour and is available to perform, Son D'Oro immediately calls and offers Morsaratti $501 to sing several songs at the clients' reception, to which Morsaratti happily agrees. Evaluate the following statement: Since Son D'Oro Party Co's and Morsaratti's contract is for more than $500, the UCC requires that the contract be in writing and signed by both parties.

True

False