Term
|
Definition
| someone who deals in the goods that are the subject of the contract |
|
|
Term
| Does Article 2 of UCC apply |
|
Definition
Good of Sale: UCC applies
Not a good of sale: doesn't apply |
|
|
Term
| elements of a binding contract |
|
Definition
an offer must be made
acceptance must be given
something of value must be exchanged |
|
|
Term
| elements of a definite offer |
|
Definition
| the party, subject matter of contract, price, time for performance |
|
|
Term
|
Definition
| a contract in which one party agrees to buy all its requirements for a particular product from the other party |
|
|
Term
|
Definition
| a contract in which one party agrees to deliver its entire output of a particular product to the other party |
|
|
Term
|
Definition
| a contract formed between parties of very unequal bargaining power where the terms are so unfair as to "shock" |
|
|
Term
|
Definition
| a contract that is invalid even if it is not repudiated by either party |
|
|
Term
|
Definition
| a valid contract taht can be set aside at the option of one of the parties |
|
|
Term
|
Definition
| the ability to take back ones contractual obligations |
|
|
Term
|
Definition
| a contract formed where the weaker party has no realistic bargaining power. "take it or leave it" |
|
|
Term
|
Definition
an intent to deceive
regarding material facts
justifiable reliance
casuses harm |
|
|
Term
|
Definition
| a guarantee made by the seller reagrding the character, quality of title of the goods being sold |
|
|
Term
|
Definition
| also known as real estate, land and items growing on or permanately attatched to land |
|
|
Term
|
Definition
| all property that is not real property |
|
|
Term
|
Definition
| intangible assets, such as trademarks, copyrights, patents |
|
|
Term
|
Definition
| terms, names, combos/letters, logos that identify a product |
|
|
Term
|
Definition
| symbols used in connection with service-oriented businesses |
|
|
Term
|
Definition
| rights to control the writings, musical performance and art creations |
|
|
Term
|
Definition
|
|
Term
|
Definition
| an interest or title to real property |
|
|
Term
|
Definition
| ownership by two or more people who have equla rights in the use of the property |
|
|
Term
|
Definition
| a right to use property owned by another |
|
|
Term
|
Definition
| a provision in a deed that prohibits specified use of the property |
|
|
Term
|
Definition
| an agreement in which the property owner gives someone else the right to property for a designated period of time |
|
|
