A purchased and received some “items” from B for $2,000, some of them being defective. They negotiated a settlement price of $1,200, which A paid. B then objected to the settlement because he felt he had been too generous, and A and B then revised the amount to $1,400. (1) Discuss the validity of both settlements under both UCC and common law. (2) What result would you expect if the original contract provided a liquidated damages clause?