Contracts Essay Exam Approaches

Question 1

WHAT LAW GOVERNS

Answer 1

heading

Question 2

The UCC applies to contracts involving a sale of goods. Goods are moveable and tangible items at the time of identification of the contract

Answer 2

rule

Question 3

Any contracts not governed by the UCC are governed by common law

Answer 3

rule

Question 4

Here, the subject matter of the contract is…., therefore the UCC/Common Law applies

Answer 4

analysis

Question 5

MERCHANTS?

Answer 5

heading

Question 6

A merchant is one who regularly deals in these kinds of goods or holds themselves out as having speical knowledge or skills as to these goods

Answer 6

rule

Question 7

Here, the facts indicate that…. is/is not in the business of… therefore, …. is/is not a merchant(s)

Answer 7

analysis

Question 8

IS THERE A VALID CONTRACT

Answer 8

Heading

Question 9

A contract is a promise or set of promises, for the breach of which the law gives a remedy, or the performance of which the law recognizes as a duty.

Answer 9

rule

Question 10

A valid contract consists of offer, acceptance and consideration with no defenses

Answer 10

rule

Question 11

Is There Mutual Assent?

Answer 11

Sub-Heading

Question 12

Mutual assent consists of and offer and acceptance

Answer 12

rule

Question 13

Is there and Offer

Answer 13

Sub-Heading

Question 14

An offer is a manifestation of present contractual intent to be bound by certain and definite terms, communicated to the offeree (CL & UCC)

Answer 14

rule

Question 15

If UCC - A merchants firm offer is a writing signed by a merchant which gives assurances that the offer will be held open, is not revocable for lack of consideration during the time states, and if no time is states - for a reasonable time - not to exceed three months.

Answer 15

rule

Question 16

IF CL - an offer is a non-revocable option contract only if consideration and in writing signed by the offeror

Answer 16

rule

Question 17

Here, on date, person placed an ad/sent/said…….. This constituted a revocable/irrevocable offer/invitation for an offer because…..

Answer 17

analysis

Question 18

IF NOT a valid offere - go to the next communication in chronological order

Answer 18

process

Question 19

Has the Offer been Terminated

Answer 19

Sub-Heading

Question 20

An offer can be terminated by lapse of time, by the words or conduct of the offeree terminating the offer, or by operation of law

Answer 20

rule

Question 21

A revocation occurs when the offeror communicated to the offeree that the offeror no longer wishes to be bound by the offer. The revocation may be communicated directly or indirectly to the offeree. This is when the offeree leans, from a reliable source, that the offer has been revoked. This terminates the offer and it can no longer be accepted.

Answer 21

Rule

Question 22

Here, state appicable facts, if any, indicating that the offer has been terminated.

Answer 22

analysis

Question 23

Is there Acceptance

Answer 23

Sub-Heading

Question 24

If CL - An acceptance is an unequivocal assent to the terms of the offer. Under CL, the acceptance must be a mirror image of the offer. Any additional or missing term(s) would constitute rejection of counter-offer.

Answer 24

rule - CL

Question 25

if UCC - A definite and seasonal expression of acceptance or a written confirmation which is sent in a reasonable time operates as acceptance even though it states terms additional to or different from those offered or agreed upon, unless acceptance is expressly made conditional on assent to the additional or different terms.

Answer 25

rule - UCC

Question 26

An acceptance may be made by any reasonable means, unless a specific manner of acceptance has been dictated by the offer

Answer 26

rule

Question 27

Unilateral contracts require full performance by the offeree who knows of the offer

Answer 27

rule

Question 28

If CL - a bilateral contract requires either a promise or beginning performance

Answer 28

rule

Question 29

If UCC - a bilateral contract requires either a promise to ship OR shipment of goods.

Answer 29

rule

Question 30

Here, there was/was not a valid acceptance when.... (state facts applied to the rules above)...

Answer 30

analysis

Question 31

Acceptance is effective upon dispatch (under themailbox rule, the acceptance mb properly addressed and stamped) or when communicated to the offeree, or by any other method dictated by the offer.

Answer 31

rule

Question 32

Here, the acceptance was effective on date when.... (state facts applied to the rules above).

Answer 32

analysis

Question 33

xxxx

Answer 33

xxxx

Question 34

Is there Consideration? **** Discuss ONLY if mutual assent *****

Answer 34

Sub-Heading

Question 35

Consideration is a legally sufficient, bargained for exchange, which induces current performance, is a detriment to the promisee and a binding obligation on both parties.

Answer 35

rule

Question 36

Here, ...... promised.... in exchange for ..... Therefore there is valid consideration

Answer 36

analysis

Question 37

Is there a Substitute for Consideration (Promissory Estoppel)?

Answer 37

Sub-Heading

Question 38

Promissory Estoppel/Detrimental Reliance can serve as a substitute for consideration where the promissor reasonably should expect their promise to induce action or forebearance of a definite or substantial character and such action or forebearance is induced.

Answer 38

rule

Question 39

Here,...... (apply the facts related to promise and why there was/was not detrimental reliance)

Answer 39

analysis

Question 40

In conclusion, there is/is not a contract.

Answer 40

analysis

Question 41

DEFENSES TO FORMATION

Answer 41

Heading

Question 42

Statute of Frauds

Answer 42

Sub Heading

Question 43

the subject matter of the contract is....

Answer 43

Sub Sub Heading

Question 44

Marriage; cannot be performed in one year; land; executor; goods over $500; surety

Answer 44

rule

Question 45

Is there a sufficient writing?

Answer 45

Sub Sub Heading

Question 46

CL material terms(any term that substantially affects the economic risks or benefits, or in any way limits the usual remedies for breach), signed by the party to be charged

Answer 46

rule

Question 47

UCC confirmatory memo between merchants, unless specially manufactured goods, admission in pleadings, and performance

Answer 47

rule

Question 48

Here, the contract is/is not enforceable undr the SOF because

Answer 48

analysis

Question 49

Mistake

Answer 49

Sub Heading

Question 50

Mutual Mistake

Answer 50

Sub Sub Heading

Question 51

voids the contract if basic assumption of the contract, material effect on agreed upon exchange and no assumption by adversely affected party.

Answer 51

rule

Question 52

Unilateral Mistake

Answer 52

Sub Sub Heading

Question 53

Does not make contract voidable unless non-mistaken party knew or should have know of mistake

Answer 53

rule

Question 54

XXXXX

Answer 54

XXXXX

Question 55

Ambiguity

Answer 55

Sub Heading

Question 56

does a contract term have more than one meaning?

Answer 56

rule

Question 57

No contract unless both parties intended the same meaning

Answer 57

rule

Question 58

If both aware of the ambiguity, no contract unless both intended same meaning

Answer 58

rule

Question 59

If only one party aware of the ambiguity, contract on that party's meaning

Answer 59

rule

Question 60

Illegality

Answer 60

Sub Heading

Question 61

illegality of consideration or subject matter voids the contract

Answer 61

rule

Question 62

Incapacity

Answer 62

Sub Heading

Question 63

By age, insanity or intoxication can make contract voidable

Answer 63

rule

Question 64

Unconscionability

Answer 64

Sub Heading

Question 65

makes contract or provision unenforceable where unequal baraining power

Answer 65

rule

Question 66

Duress

Answer 66

Sub Heading

Question 67

Physical or economic duress voids contract

Answer 67

rule

Question 68

Fraud

Answer 68

Sub Heading

Question 69

intentional misrepresentation of a material facts inducing contract is voidable

Answer 69

rule

Question 70

xxxx

Answer 70

xxxx

Question 71

CONTRACT TERMS

Answer 71

Heading

Question 72

Interpretation of Terms

Answer 72

Sub Heading