Contracts & Application of Laws Flashcards
An express contract is formed by…
parties’ words – oral or written.
An implied contract is formed by…
the parties’ conduct.
A quasi-contract is formed by…
courts!!! To prevent unjust enrichment by permitting the Plaintiff to bring an action to recover the amount of benefit conferred on the Defendant.
(a remedy of last resort – NOT a contract)
A bilateral contract is the exchange of a…
promise for a promise.
A unilateral contract is the exchange of a…
performance for a promise.
Article 2 applies to…
the sale of goods.
Goods are…
anything movable when identified to the contract.
(tangible personal property)
Common law governs…
contracts for services.
A merchant is one who…
regularly deals in goods of the kind sold; or holds themselves out as having special knowledge or skills as to practices or goods involved.
When a contract involves both goods and services, apply the law of…
the more predominant transaction.
