Offer & Acceptance
This common law doctrine requires an acceptance to match every term of the offer without any changes
Answer: What is the Mirror Image Rule?
This required element of contract formation consists of something of value traded back and forth between parties.
What is consideration?
Article 2 of the Uniform Commercial Code governs transactions specifically involving these moveable items
What are goods?
Most contracts fall into this category, characterized by a promise given in exchange for a reciprocal promise
What is a bilateral contract?
An uncle promises his nephew $5,000 if he refrains from drinking and gambling until age 21; under Hamer v. Sidway, the nephew's surrender of his legal rights constitutes valid consideration through this concept
What is forbearance?
Under this procedural rule, an acceptance sent by postal service becomes legally effective on the date sent rather than when received
In Hamer v. Sidway, refraining from exercising a legal right satisfied consideration under this specific concept
What is forbearance?
Courts apply this test to determine whether Common Law or UCC Article 2 governs a contract that combines both goods and services[9]
What is the Predominant Purpose Test?
This core element requires both parties to objectively manifest agreement to the same terms and intend to be bound[15][16]
What is mutual assent?
A buyer offers $5,000 for a used car, and the seller responds, "I accept, provided you pay $6,000"; under common law rules, this response fails as an acceptance and operates as this
What is a counteroffer (or rejection)?
Advertisements, price quotes, and letters of intent are generally classified as this, rather than binding offers
What are invitations to bargain?
A promise to perform an action that one is already legally obligated to carry out fails to provide consideration under this rule
What is the Pre-Existing Duty Rule?
Unlike common law contracts, modifying an existing contract for the sale of goods under the UCC does not require this element
Carlill v. Carbolic Smoke Ball demonstrated that an advertisement can form this specific type of contract when it promises payment for specified performance
What is a unilateral contract?
A contractor agrees to build a shed for $3,000, but halfway through demands $1,000 more to complete the exact same job; the homeowner's promise to pay the extra $1,000 is unenforceable under this rule
What is the Pre-Existing Duty Rule?
In a unilateral contract, this action by the offeree creates an implied promise holding the offer open and protecting against revocation
What is substantial performance?
A promise made in exchange for a performance or benefit that has already been completed in the past is generally unenforceable under this doctrine
What is past consideration?
Under UCC 2-204, a contract for the sale of goods does not fail for this defect even if essential terms are left open[11][12]
What is indefiniteness
Unlike an acceptance under the mailbox rule, a rejection of an offer takes legal effect at this exact point in time
What is when received by the offeror?
A company enters into a single contract for a commercial computer system consisting of $80,000 in equipment and $20,000 in tech support; a court will apply this test to determine whether UCC Article 2 or Common Law applies
What is the Predominant Purpose Test?
$1000 Clue: This landmark case established that a communication is not an offer if the recipient knows or has reason to know the sender does not intend a fixed commitment
What is Lonergan v. Scolnick?
A token or trivial payment that fails to actually induce a bargain is classified as this type of consideration and cannot enforce a promise
What is nominal consideration (or pretense of a bargain)?
Under UCC 2-207(2) between merchants, additional terms automatically become part of the contract unless they materially alter it, objection is given, or this condition exists
What is the offer expressly limits acceptance to its terms?
Under Ray v. William G. Eurice & Bros., a party who signs a written contract is bound by its terms regardless of their unexpressed subjective intent under this core doctrine
What is the Objective Theory of Contract Law?
Merchant A sends a purchase order for goods, and Merchant B sends an confirmation invoice adding a new clause waiving all liability for indirect damages; under UCC 2-207(2), this clause does not automatically enter the contract because it does this
What is materially alter the agreement?