Which of the following is correct regarding firms offers, the Uniform Commercial Code $($UCC$),$ and the common law?

Multiple choice question.

Neither the UCC nor the common law requires consideration in return for the period of irrevocability.

The UCC does not require consideration in return for the period of irrevocability, while the common law does.

Both the UCC and the common law require consideration in return for the period of irrevocability.

The common law does not require consideration in return for the period of irrevocability, while the UCC does.