Final answer:
The common law requires new consideration for contract modifications, while Article 2 of the UCC allows modifications in good faith without new consideration.
Step-by-step explanation:
The question pertains to the consideration rule for contract modification under common law compared to the rule under Article 2 of the Uniform Commercial Code (UCC). Under common law, the general rule is that to modify a contract, new consideration must be provided by both parties; that is, each party must agree to do something new or different than what was originally agreed upon. However, Article 2 of the UCC, which governs the sale of goods, relaxes this requirement. Under Article 2, a contract can be modified without new consideration as long as the modification is made in good faith. This reflects the more flexible approach of the UCC regarding commercial transactions, recognizing the realities of ongoing business relationships where terms may need to be adjusted to reflect changing circumstances.