Seaman supplied fuel for ships and needed a long-term supply contract with a major oil company. In a letter dated October 11, Standard Oil offered Seaman a ten-year supply contract with three ten-year options for renewal. The letter made no mention of quantity requirements, price, particulars of performance, or other material terms. Seaman signed the letter indicating his acceptance of Standard’s offer. When Standard later said it could not supply fuel, Seaman sued. Standard raised the defense of the statute of frauds. Is the October 11 letter a signed writing sufficient to satisfy the statute of frauds? Explain.