K Formation
Offer Rule
(1) manifestation of intent to enter into a bargain
(2) stated in certain and definite terms
(3) communicated to indentified persons
(4) so that offeree is reasonably able to understand that a k will form if accepted
Which of the following is subject to the statute of frauds writing requirement?
a. J. J. and Dee Dee exchange mutual promises to marry each other.
b. Uncle promises to give Dee Dee and J. J. a three-week vacation in Hawaii if they get married.
a. J. J. and Dee Dee exchange mutual promises to marry each other.
For the mental incapacity defense, the traditional rule for testing for incompetence is
a. cognitive test
or
b. volitional test
A. cognitive test
Promissory Estoppel Rule
(1) Was there a promise
(2) Should the promisor have reasonably expected the promise to induce action or forbearance
(3) Did promisee take action or forbearance in reliance on the promise
(4) Can injustice only be avoided by enforcing the promise
(5) Should remedy be limited
How does UCC §2-207 differ from the common law?
a. The mirror image still applies, but the last shot rule does not
OR
b. An acceptance with varying or different terms may form a contract.
B
Acceptance Rule
(1) Manifestation of asssent
(2) To terms of offer
(3) Manner invited or required
Which of the following is a correct statement of the law?
a. A contract for one year is within the statute of frauds
or
b. Contracts that cannot be performed within one year are within the statute of frauds.
B.
A threat is improper only if what is threatened is a crime or a tort.
a. true
or
b. false
B. False
When is restitution not available?
1. a party officiously confers a benefit (officious intermeddler)
2. a party has conferred a gratuitous benefit
when can silence be acceptance?
1. where offeror indicates that silence or inaction will form a k
2. where in past dealings silence was acceptance
3. offeree has exercised dominion or control over consideration
Consideration Rule
(1) Legal Value
(a) detriment to promisee OR
(b) benefit to the promisor
(2) Bargained for Exchange
(a) promise induces detriment
(b) detriment induces promise
Battle of the forms- Common law approach
1. mirror image rule
2. last shot rule
Exceptions to minor incapacity
1. Ks for necessities of life
2. misrepresentation of age
3. where a minor willfully harms property that is the subject of the k
4. statutory exceptions
Restitution rule
2. D has appreciation or knowledge of benefit
3. D has accepted/retained benefit conferred
4. inequitable for D to retain benefit w/o paying value for it
What are detriments to the promisee?
2. to act or not to act
3. creation, modification, or destruction of a legal relationship
what terminates POA?
1. rejection by offeree
2. counteroffer by offeree
3. revocation by offeror
4. lapse of time
5. death or incapacity of offeror/ee
Define Statute of Frauds
1. marriage provisions
2. over one year provision
3. land sale ks
4. executor payment payment of estates debts
5. sale of goods of $500 or more
6. suretyship agreements
Substantive and procedural unconscionability
a. must be equal in terms of degree
or
b. can be evaluated on a sliding scale
b- sliding scale
Generally, does an implied in law contract differ from a quasi-contract?
a. Yes, because, by definition, a quasi-contract has consideration and an implied in law contract does not.
or
b. No, the terms are generally treated as synonymous.
B
define output ks and requirements ks
1. output- seller agrees to sell ALL they produce to buyer
2. requirements- buyer is obligated to purchase all they need from seller
Name/define all irrevocable offers
2. coditional ks
3. part performance of unilateral k
4. UCC merchants firm offer
between merchants, different and additional terms are apart of the k unless:
1. offer expressly limits additional terms
2. the terms materially alter the k
3. objection given within a reasonable amount of time
A misrepresentation is material if
a. a reasonable person would likely be induced by the misrepresentation to enter the contract.
b. the maker knows that this specific recipient would likely be induced to enter the contract even though a reasonable person might not be so induced.
c. either a or b
d. neither a nor b
c- either a or b
Courts will always enforce promises under the doctrine of promissory estoppel even if there is no detriment to the promisee because of the moral principle that promises—once made—should be kept.
a. true
or
b. false
False
exceptions to mailbox rule
1. offeror modifies acceptance
2. in an option k, acceptance is effective upon receipt
3. the government is not bound by mail