Ed and Josie are buyers and sellers of used motorcycle parts. Theyhave been competitors for years, but also have sold each other partswhen either got an order for a part not in inventory. They feel likeone of them should do the used parts business, not both. (They both dosome repair business as well.)They were not able to complete all the details of an agreement andbecame impatient. They are used to buying and selling from each othervery fast when they need a part and working out reasonable terms andprices, based on normal practices and established pricing.Ed’s attorney suggested a bold approach, in which Ed would take somerisks of being wrong on his estimates of value. The attorney suggested asell/buy offer, but Ed did not supply all the details that hisattorney suggested.Ed has now made a ‘sell/buy offer’ to Josie, with almost no details.Instead of giving only one choice, like a normal offer, he has offeredto either sell his entire present inventory of used parts to Josie for$185,000 or buy her present inventory of used parts for $195,000. Thisoffer from Ed is in writing.Assume that the sales article of the Uniform Commercial Codeapplies. If Josie accepts either choice, has a valid contract been madeunder the Uniform Commercial Code? Why or why not? If not, what termsneed to be added? Argue both sides.