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Contracts for bar
Contracts for California bar
19
Law
Graduate
06/18/2016

Additional Law Flashcards

 


 

Cards

Term
Offer
Definition
Objective manifestation by offeror to enter into agreement with seller that creates power of acceptance in offeree
Term
Essential terms
Definition
Common law:
All needed - parties, subject matter, price quantity
UCC:
Only quantity
Term
Acceptance
Definition
Objective manifestation by the offeree to be bound by terms of the offer
Term
Mistake
Definition
Belief not in accord with basic assumption on which contract made
Term
Unilateral mistake
Definition
Mistaken party can void if:
1) Non-mistaken party made mistake, had duty to disclose, and knew or should've known of mistake
2) Enforcement unconscionable
Term
Mutual mistake
Definition
Either party can void if:
1) He did not assume risk of mistake
Term
Fraudulent misrepresentation
Definition
1) False assertion (knowing or reckless)
2) With intend to mislead and induce assent
3) Induced assent through justifiable reliance
Term
Undue influence
Definition
Unfair persuasion by virtue of a relationship in which one party is dominant. Key question: free and competent judgment?
Term
Duress
Definition
Improper threat that deprives party of meaningful choice
Term
Unconscionable contract
Definition
Unconscionable when so unfair that no reasonable person would have agreed
Term
Conditions for UCC firm offer
Definition
1) Offeror is a merchant
2) Offer in writing
3) No more than 90 days
Term
Quasi contract when
Definition
1) P confers measurable benefit
2) Without gratuitous intent
3) Unjust to let retain
Term
Defenses to formation v. Unenforceable K v. Discharge
Definition
No K - Mistake, Misund, Misrep, Undue Inf, Duress, Capacity
Unenforceable - Illegal, unconscionable, public policy
Discharged - Impracticability, Frustration, Release
Term
Elements of impracticability
Definition
1) Unforeseen event
2) Not contemplated during contract
3) Moving party not at fault
Term
Assurances when grounds for insecurity
Definition
1) Can demand assurances if reasonable grounds for insecurity exist
2) Failure to provide assurance in 30 days treated as repudiation
Term
Expectation damages formula
Definition
Loss in value + Other loss - Cost avoided - Loss avoided
Term
Defenses for injunction
Definition
Laches, unclean hands
Term
Mistaken party can void if
Definition
1) Enforcement would make K unconscionable
OR
2) Other party caused, had duty to disclose, or knew
Term
Mistaken party can void if
Definition
1) Enforcement would make K unconscionable
OR
2) Other party caused, had duty to disclose, or knew
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