A. How does Article 2 of the UCC change the common law with regard to consideration for a contract modification? b. Explain how output and requirements contracts differ from illusory promises
a. The UCC states that the modification of an existing contract for the sale of goods is enforceable without consideration.
b. An output contract is the seller's agreement to sell its entire production to a particular buyer. A requirements contract is a buyer's agreement to purchase from a particular seller all the materials of a particular kind that the purchaser needs. These contracts are not illusory. Illusory promises are words of promise that make performance entirely optional with the purported promisor.
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