Wallace wanted baseball caps with the name of the firm of which he was president, ABC Corporation, emblazoned on
the front. Fran, a merchant in specialized goods, orally agreed with Wallace that she would sell to him 200 baseball caps at $5 each. No writing was ever made although there were a number of witnesses to the conversation. After the caps were finished, but before they were shipped, Wallace called to cancel the order because his firm had just announced a merger and would no longer be known as ABC Corporation. Fran told him to forget cancelling the contract because she had just finished the caps. Wallace told Fran that she should have been smarter and had him sign something because without a writing, she does not have a chance in court.
Which of the following is correct regarding Wallace's assertion that Fran cannot recover the cost of the caps?
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