Flashcard Set Preview
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Overview of Contracts
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Read the call of the question first
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Isolate...
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Contracts Topic overview
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1) Applicable Law2) Formation of Contracts3) Terms of contract4) Performance4) Remedies for...
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Preliminary Vocab
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In the notecards below
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Is there an argreement that is legally enforceable?Contract Formation at Common Law (not UCC)
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K = a legally enforceable agreement (or promise_1) Offer - objective manifestation of a willingness...
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Quasi Contract elements
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This is an equitable remedy, not K Law. If MBE or essay involves fairness/equity look for equityElements:1)...
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Unilateral Contract
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Promise requesting performance=results from an offer that expressly requires performance as...
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Bilateral Contract
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All other contracts are this (mutual exchange of promises) - is a...
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Issue 1) Applicable Law (Armadillos..)
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-First Must determine choice of law for the contract, if Common Law of K applies or UCC...
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What factors determine whether Artticle 2 applies?
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1) Type of tansaction- must be a Sale2) Subject matter- Must be a good (tangible Personal...
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How do you determine if UCC or Common Law applies in a Mixed deal with Goods and servcies?
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Rule: Substantial and most important part of the contract service or goods (UCC)? Exception:...
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Article 2A of UCC is NOT MBE, but could be ESSAY
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Scope: Applies to LEASES of goods. Not leases of buildings or land. In most controversies...
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Issue 2) Formation of Contract (All Armidillos FROM...)Two Parts -Offer and termination rules;...
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-Remember, K is an 1)Agreement the is 2) legally enforeable. So after looking first to the...
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Offer and termination rules1) The Offer (initial communication) tests
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General Test: Offer is manifestation of intent to contracts through words or conduct showing...
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Examples
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1) S Offers to sell Blackacre to B,. nothing said about price, offer? ...
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2) Termination of the offer (after the initial communication) done in four ways by Offeree...
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General Rule: An offer CANNOT be accepted if it has been terminated. An offer terminated is...
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