contracts

Question 1

promissory estoppel

Answer 1

if you make a promise and you know the promise will cause a detrimental reliance on the person it will be enforceable

Question 2

offer

Answer 2

committed and definite
the manifestation of intent to enter into a bargain

Question 3

illusory promise

Answer 3

empty promise

Question 4

quotes

Answer 4

non committed price term not offer
could be an offer if made in response to an inquiry with specific quantity terms (bids are quotes and are offers if to a general contractor from a sub)

Question 5

ads

Answer 5

usually not an offer (invitation to negotiate)
unless language can be construed as a a promise, the terms are definite, ofereee is identified

Question 6

indefiniteness

Answer 6

if parties intended to contract and a reasonably certain basis for giving a remedy, if courts can interpret what parties intended for missing term then not fatally definite

Question 7

at will employment

Answer 7

term is indefinite and lacks commitment, no contract
could fire for any reason except : violating public policy(malice) implied in fact (employee manual) implied in law (good faith fair dealing)

Question 8

agreement to agree

Answer 8

unenforceable
agreement to negotiate is enforceable

Question 9

goods

Answer 9

moveable thing at the time of identification to the contract
if parties indeed to make contract missing terms are left open not indefinite if reasonable basis for remedy

Question 10

hybrid contract

Answer 10

predominant factor test
language
parties addressed themselves
price allocation
payment

Question 11

common law

Answer 11

services real estate
missing term parties intended to be bound courts could determine reasonable term

Question 12

acceptance

Answer 12

manifestation of assent to the terms made by offeree

Question 13

unilateral contract

Answer 13

performance as acceptance

notice of offer required

notice of acceptance not required

full performance for acceptance

common law you have duty to provide notice when performance completed

Question 14

ucc 2206

Answer 14

accept offer by any reasonable means unless offeror ambiguously states

2)uni-acceptance by partial performance requires notice to offeror or offeror can treat offer as having lapsed

1)bi-offer to buy goods for shipment inviting acceptance by promise to ship or by shipment

shipment of nonconforming good acceptance and breach
unless seller accommodation then counter offer

buy may reject non conforming goods, seller then no longer in breach and may reclaim goods

Question 15

Bilateral contract

Answer 15

offer looking for acceptance by return promise

offer is required to have notice that you accepted and offer must have notice of the offer

Question 16

acceptance by silence

Answer 16

if recipient of an act has knowledge to believe compensation is expected and allows act without objection while availing himself to benefits acceptance is implied

Question 17

duty to speak

Answer 17

if common practice has been set (such as no notice of acceptance but shipment) then there is a duty to speak

Question 18

prescribed

Answer 18

must only

Question 19

mailbox

Answer 19

acceptance effective upon dispatch
(unless offer says acceptance another way

wrong address upon receipt

termination then acceptance whiter ever he sees first

Question 20

revocation

Answer 20

bilateral can revoke before acceptance

uni has to revoke before partial performance

revoke after time lapse

offers terminate upon death incapacitation

indirect offered has learned that the offer has been accepted by another

Question 21

counter offer and battle of the forms (common law)

Answer 21

mirror image rule if not rejection and counter offer

Question 22

ucc 2207 battle of the forms

Answer 22

a) additional acceptance unless the acceptance is conditional to the offerors assent to additional terms

B)if merchants additional or different terms become part of contract unless
1)the offer expresslly limits acceptance to the terms of the offer
2) materially altered
3)rejection has been given within a reasonable time
4)

C) if offeror does not assent to terms but parties proceed with transactions the terms are those that the party agreed upon plus anything ucc adds
(knock out rule) gap fill

UCC 2-207(1) and (3): Cannot be accepted by performance - if parties
ship or accept goods after counter-offer, contract is formed by their
conduct, new terms are not included, and contract is based on terms
which their writing agrees and what UCC gap fills

Question 23

ucc 2204

Answer 23

2-204: a contract for sale of goods may be made in any manner sufficient
to show agreement, including conduct by both parties which recognizes the
existence of a contract

situation where you don’t know which communication was offer and acceptance but parties act as if a contract binding contract I s formed

Even though one or more terms are left open a contract for sale does not fail for indefiniteness if the parties have intended to make a contract and there is a reasonably certain basis for giving an appropriate remedy.

Question 24

ucc 2606

Answer 24

a buyer accepts goods when after an opportunity to inspect, he fails
to make an effective rejection

Question 25

rolling contract

Answer 25

Contracts: Terms can be added past acceptance provided offeree has opportunity
to know and accept the terms.

Question 26

e commerce

Answer 26

Browse wrap terms, clickwrap, etc. must be conspicuous

Inconspicuous terms are enforced only when the user has actual or constructive
notice of the site’s terms

An offeree is bound if he has actual knowledge of the terms or if a
reasonably prudent offeree would have known of their existence
d) Assent to these terms must be unambiguous

Question 27

right of refusal

Answer 27

an exclusive right giving a party the first priority to
buy what a grantor is willing to sell and requires consideration

Question 28

ucc 2205

Answer 28

firm offer
Between merchants, for goods, written and signed, language of
irrevocability
(2) The only person who can make an offer irrevocable without
consideration is a merchant.
(3) Three-month rule in practice
(4) You must buy and pay (consideration) for the right for the contract to
be irrevocable. (bilateral context)

Question 29

consideration

Answer 29

some right profit or benefit to one party or some forbearance detriment loss responsibility undertaken by the other(give up something of legal value)

promise has induced legal detriment or promiser gets legal value

promise induces detriment and detriment induces promise

forbearance of legal right is detriment

gratification Is legal benefit

nominal consideration vs minimal consideration= nominal not bargained for not induced

Question 30

not consideration

Answer 30

gift
conditional gift could be (piano vs pick up pen)

moral obligation= past consideration (if consideration happened before promise not consideration)

Question 31

under common law (pre existing duty rule)

Answer 31

contract modification requires new consideration because pre existing duty.

except for unforeseen developments (oppressive and substantial)

mutual consent does not change the pre existing duty rule

Question 32

ucc 2209

Answer 32

modification in a good transaction only require voluntary consent and good faith

Question 33

exclusive right or agency

Answer 33

implied in law promise replace consideration because required to use best effort (ucc 2306)

Question 34

ucc 2306

Answer 34

1implied in law promise replace consideration because required to use best effort

2requirements contract buyer promises to buy all that they require and seller promises to sell the amount to buyer

3 output contract
reverse of requirement