Term
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Definition
*FORMATION (consider UCC)
*PERFORMANCE
*OTHER PARTIES |
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Term
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Definition
OFFER
CONSIDER TYPE OF OFFER
OFFER TERMINATED
ACCEPTANCE
CONSIDERATION
DEFENSES TO FORMATION |
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Term
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Definition
MANIFESTATION OR PRESENT CONTRACTUAL INTENT (Obj theory of reasonableness)
DEFINITE AND CERTAINTY OF TERMS (jxdn)
COMMUNICATED (knowledge on part of the offeree) |
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Term
| MANIFESTATION OF PRESENT CONTRACTUAL INTENT |
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Definition
*WORDS USED
SURROUNDING CIRCUMSTANCES
TO WHOM PROPOSAL WAS MADE
DEFINITENESS AND CERTAINTY OF TERMS
WHETHER WRITTEN K CONTEMPLATED |
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Term
| DEFINITE AND CERTAINTY OF TERMS (jxdn) |
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Definition
CL (party, subject, time, and price. MODERN VIEW
MODERNLY AND UCC: Imply objective terms were able
Such as
R&O
UCC - QTY |
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Term
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Definition
OPTION CONTRACT
*WHERE OFFEREE HAS DETRIMENTALLY RELIED
OPTION WITH RESERVE
*UCC FIRM OFFER BY MERCHANT
*UNILATERAL CONTRACT AFTER PART PERF
PLAIN OFFER |
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Term
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Definition
EXPRESS TERMINATION
OPERATION OF LAW
LAPSE OF TIME
DEATH OR DESTRUCTION OF SM
DEATH OR INSANITY OF OFFEROR OR OFFEREE
SUPERVENING ILLEGALITY
ACT OF PARTIES
REVOCATION
REJECTION BY OFFEREE |
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Term
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Definition
CAPACITY TO ACCEPT
*ACCEPTANCE MUST BE COMMUNICATED
*BI-LATERAL VS. UNILATERAL CONTRACT
NOTICE OF ACCEPTANCE REQUIRED
METHODOLOGY
*ACCEPTANCE MUST BE UNEQUIVOCAL (CL, rest, UCC)(JXDN)(FC) |
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Term
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Definition
*BENEFIT VS. DETRIMENT (FC)
ADEQUACY OF CONSIDERATION
*PRE-EXISTING DUTY
PROMISES ENFORCEABLE WITHOUT CONSIDERATION
FORMALITIES AS CONSIDERATION SUB
ILLUSORY PROMISES
NO REQUIREMENT ALL CONSIDERATION IF VALID |
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Term
| CONSIDERATION - PRE-EXISTING DUTY |
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Definition
*EXTENSION AGREEMENT
*Promises to accept a smaller sum as discharge of debt
*Commercial Necessity
Pre-existing duty owed to a third party
*NOTE: pre-existing duty v. Accord and satisfaction
Promises enforceable without consideration |
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Term
| CONSIDERATION - FORMALISMS AS SUBSTITUTE FOR CONSIDERATION |
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Definition
Promises under a seal
*Promises in writing
*Promises to pay a bared legal obligation
Promises to perform avoidable
*pre-existing duty
*promises to pay for benefits previously conferred |
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Term
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Definition
CAPACITY
ILLEGALITY
*FRAUD, MISTAKE, DURESS (Recision/Reformation/*QK)
*UCC UNCONSCIONABILITY
*STATUTE OF FRAUDS (SOF)
AMBIGUITY (Reformation, Parole Evidence)
NOVATION/CANCELLATION/RELEASE/LAPSE/SOL/SUB-K |
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Term
| DEFENSES TO FORM - CAPACITY |
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Definition
MINORITY
MENTAL CAPACITY
INTOXICATION |
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Term
| DEFENSES TO FOPRM - STATUTE OF FRAUDS |
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Definition
MYLEGS
MARRIAGE
YEAR
LAND
EXECUTOR
GOODS OF $500 OR MORE
SURITY |
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Term
| DEFENSES TO FORM - AMBIGUITY |
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Definition
| AMBIGUITY - REFORM AND PAROLE EVIDENCE |
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Term
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Definition
CONDITIONS/PROMISES
BREACH
ANTICIPATORY BREACH - MAJOR BREACH
VOLUNTARY DISABLEMENT - MINOR BREACH
PREVENTION
DIVISIBILITY
WAIVER
*SUBSTANTIAL PERFORMANCE (Constructive cond precedent at *quasi contract)
IMPOSSIBILITY
ESTOPPEL
REMEDIES (land, construction, services use SP)
WARRANTIES |
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Term
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Definition
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Term
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Definition
ANTICIPATORY BREACH (Major breach/disch)
VOLUNTARY DISABLEMENT (Minor breach/suspen) |
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Term
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Definition
SPECIFIC PERFORMANCE
RECESSION/QUASI CONTRACT
REFORMATION |
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Term
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Definition
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Term
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Definition
THIRD PARTY BENEFICIARY
ASSIGNMENT AND DELEGATION (FC) |
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Term
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Definition
*CREATION
*VESTING
*TERMINATION
ENTRUSTMENT
VOIDABLE TITLE |
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Term
| ASSIGNMENT & DELEGATION (FC) |
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Definition
IN GENERAL (FC)
WHAT CONSTITUTES EFFECTIVE ASSIGNMENT
*REVOCATON OF ASSIGNMENT
UCC RULES ON SUCCESSIVE ASSIGNMENTS
DEFENSES AVAILE TO OBLIGOR
DELEGATION OF CONTRACT DUTIES |
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