Governing Law
This law governs contracts for the sale of goods - items movable at the time of identification to the contract.
What is the UCC (uniform commercial code)?
This acronym helps remember the definite and certain terms required for a valid offer.
What is Q-TIPS (quantity, time, identity of parties, price, subject matter)?
This early case about an uncle and nephew distinguishes enforceable promises from gratuitous ones.
What is Hamer v. Sidway?
Oral Contracts are generally valid, but some must be in writing under this rule.
What is the Statute of Frauds?
A contract signed by a minor is typically this - unless for necessitates.
What is voidable?
This type of law governs contracts that do not involve the sale of goods.
What is common law?
This doctrine says acceptance is effective upon dispatch, not receipt.
What is the Mailbox Rule?
Doing something you are already legally obligated to do is not valid consideration - this is known as what rule?
What is the Pre-Existing Duty Rule?
This acronym lists categories of contracts that must be in writing.
What is MYLEGS?
When one party lacks meaningful choice and terms are unreasonably favorable to the other, the contract may be voided as this.
What is unconscionable?
A "good' under the UCC is defined as this type of item at the time of identification.
What is movable item?
Under this common-law rule, an acceptance must be a precise mirror image of the offer.
What is the Mirror-image rule?
A promise made in recognition of a previously received benefit may be enforced to prevent injustice.
What is the Moral obligation rule (Material Benefit Rule?)
The "G" in MYLEGS stands for this type of contract.
What is a contract for goods over $500?
A contract entered under an improper threat leaving no reasonable alternative may be voidable for this reason.
What is duress?
UCC § that allows for acceptance through a shipment or promise to ship goods.
What is § 2-206?
Under UCC §2-205, this type of offer made by a merchant and signed in writing is irrevocable for the stated time.
What is a Firm Offer?
This doctrine allows enforcement of a promise without consideration if reliance was foreseeable and actual.
What is Promissory Estoppel?
This case holds that a defendant cannot use the Statute of Frauds as a defense where the plaintiff would be unconscionably injured or defendant unjustly enriched.
What is Monaco v. Lo Greco?
This doctrine prevents enforcement of a contract when a dominant party exerts extreme pressure on a weaker party.
What is undue influence?
"meeting of the minds"
What is mutual assent?
Once performance has begun in a unilateral contract, the offeror cannot revoke until this amount of time has passed.
What is a reasonable amount of time to complete performance?
A promise that depends solely on the promisor's whim or discretion is this type of promise.
What is an illusory promise?
UCC §2-201 requires three elements for a valid writing: a writing, a signature by the party charged, and this essential term.
What is 'quantity' term?
This case involved fishermen renegotiating wages mid-voyage and illustrates the pre-existing duty rule.
What is Alaska Packers' Association v. Domenico?