Contract's Mnemonics Flashcards
To Remember Cluster Groups (15 cards)
Governing Law for K
“good LUCCC 2 you”
- UCC (Article 2) - goods
2. CL - Common Law - services
Contract Formation
“FLACO”
- Formation of
- Legal K needs:
- Acceptance
- Consideration
- Offer
Elements of an Offer
“ET plays the CD “P2SQD”, then Phones Home and wears MINK”
- Certain and Definite Essential Terms
- Parties, Price, Subject,
Quantity, Description
- Parties, Price, Subject,
- Communication to the Offeree
- Manifest Intent to K
Termination of an Offer
“Terminated by DR. C. TIRD”
- Death
- Rejection
- Counteroffer
- Time Lapse
- Indirect Revocation
- Direct Revocation
3 Times an Offer is Irrevocable
“1,2,3, FOOC U!”
No take backs!
- Firm Offer
- Option Contract
- Unilateral Contract
Manner of Acceptance
“Battling Mi PMs”
- Battle of the Forms (2-207)
- Mirror Image Rule
- Performance
- Mailbox Rule
Weird Hypos with Invalid Consideration
“Weird to C a PIG IN the NIGHT”
- Illusory Promise
- Gift
- Past/Moral Consideration
Weird Hypos with Valid Consideration
“BEAR PROMISED 2 PAY SUE’S DEBTS at the BANK after DISCHARGING his PP at the BAR”
- Forbearance to Sue
- Promise to Pay a Debt Barred by SOL
- Promise to Pay a Debt Discharged by Bankruptcy
Defenses
- Defending when called Fat:
“I AM SO F’N DUUMM”
- Illegal
- Age/Minority
- Mentally Incapacitated
- Statute of Frauds
- Non-Compete Clause
- Duress
- Undue Influence
- Unconscionability
- Mistake
- Misrepresentation
SOF Writing Requirement must contain:
“My Turn, So Cancel, Plans Slut”
- Material Terms
- Signed by Charged party
- Parties/Subjects
SOF Contracts that NEED to be in Writing
“MYLEGS”
- Marriage
- Year
- Land
- Executor
- Goods
- Surety
CL - Contract Modification
“Community Lawns - My New Clients that I NEED to MOW”
- Common Law
- Modification
- New Consideration Needed
- Modification may be
- Oral or
- Written
UCC Contract Modification
“NO NEW Craziness, GF, May Walk Out, COMPuter is Virtually OK.”
- No New Consideration
- Good Faith
- Modification may be:
- Written
- Oral
- Clause Prohibiting Oral Mod. is OK and VALID
Basic K Essay Framework
“Good Late night Fun with Binge Drinking Requires Three People”
- Governing Law
- Formation
- Breach
- Defenses
- Remedies
- Third Party Issues
Mutual Assent
“May All Our Upward, Achievements, Vindicate Our Crimes”
- Mutual Assent occurs upon
- Acceptance of a,
- Valid Offer to Contract
