1. Applicable Law

Question 1

Unilateral contract

Answer 1

results from an offer that expressly requires performance as the only possible method of acceptance.

Question 2

Bilateral contract

Answer 2

results from all other all other offers.

Question 3

A Contract is a Bilateral contract unless:

Answer 3

(1) reward, prize, contest or

(2) offer expressly requires performance for acceptance.

Question 4

What law applies to the sale of goods?

Answer 4

Article 2 applies to contracts that are primarily for sales of goods.

Question 5

The factors that determine whether Article 2 applies:

Answer 5

(i) type of transaction – sale and

(ii) subject matter of transaction – goods, i.e., tangible, personal property.

Question 6

What law applies to the sale of real estate?

Answer 6

Common law

Question 7

What is the general rule for mixed deals?

Answer 7

all or nothing/more important part

Question 8

What if the contract expressly divides payment for a mixed deal?

Answer 8

then apply UCC to sale of goods part and common law to the rest