TYPES OF K Flashcards
1
Q
Unilateral Contract
A
Offer expressly requires performance as method for acceptance.
2
Q
Types of Contracts:
Divisible Ks:
A
1) Performance divided into 2 + parts under K;
2) Number of parts due from each party is the same; and
3) Performance between parties is equivalent.
3
Q
Types of Contracts:
Option K
A
Agreement to leave open in exchange for consideration.
4
Q
Types of Contracts:
Advertisements
A
Generally preliminary proposal unless words are to identifiable person (e.g. first come first serve).
5
Q
Types of Contracts:
Quasi-K:
A
Equitable remedy when K results are unfair.
Prevents unjust enrichment.
6
Q
Types of Contracts:
Mixed contracts
A
Determined by the more important part of the deal, except divided contracts in which both UCC and common law rules may apply
