Term
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Definition
| The person making the offer |
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Term
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Definition
The person to whom the offer is made
(Has power of acceptance) |
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Term
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Definition
Language is clear and certain
-"I offer"
-"I promise"
-"I will" |
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Term
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Definition
| Looks like the parties meant to enter into a K |
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Term
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Definition
| Offer is communicated to the offeree |
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Term
| Preliminary Negotiation: Language |
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Definition
Language is not definite and certain
-"Im considering"
-"I might"
-"Im thinking about" |
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Term
| Preliminary Negotiation: Objective Test |
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Definition
| Does not look like the parties meant to enter into a K |
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Term
| Preliminary Negotiation: Communication |
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Definition
| Offer is not communicated to the offeree |
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Term
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Definition
Whether or not it appeared that the parties intended to enter into a K
--Third party is a fictional person. Jury considers what it would have looked like had they been watching
---Determines if it is an offer or a preliminary negotiation |
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Term
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Definition
Example of an offer!
Clear Language
Offer Communicated
Passed the Objective Test |
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Term
| Large Communicating Medium |
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Definition
General Rule: offers made on TV, the radio, on the internet or read in a newspaper are NOT offers
--Why:Too many people so therefore no one person has the power of acceptance |
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Term
| 3 Exceptions to large Communicating Medium |
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Definition
1) Limited Class of Offerees
2) First Come-First Served
3) Reward K |
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Term
| Limited Class Of Offerees |
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Definition
Offer limits the power of acceptance to a smaller amount of people
Example: "Free computer to first 10 people to call" |
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Term
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Definition
| Limits the class of offerees who can accept it to the first one |
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Term
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Definition
Only those who can provide information can collect the reward
(Always a unilateral K) |
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Term
| Terms needed to be included under the Common Law |
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Definition
NONE
Exception: Real Estate Ks- must have description of the property |
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Term
| Terms needed to be included under the UCC |
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Definition
1)Rule of Quantity
--Exception: Output-Requirement Ks
2)Rule of Gap Filling
3)Vague Ks |
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Term
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Definition
| The contract states they will buy all they they will need (requires, use, produce) |
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Term
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Definition
The court will fill in any missed information by putting witnesses on the stand to testify.
Every term but quantity. |
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Term
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Definition
| If the parties enter into a K and put in terms, but they are vague, K is NOT enforceable |
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