Consideration
This type of consideration involves giving up a legal right, as the nephew did in Hamer v. Sidway.
Forbearance
Under this standard from Embry v. Hargadine, a party's secret intent is irrelevant to contract formation.
What is the reasonable person standard?
Under this rule, a promise to pay for a benefit already received is generally unenforceable unless the material benefit rule applies.
What is the past consideration rule?
A newspaper ad was held to be an offer because it was clear, definite, specific, and left nothing open for this.
What is Lefkowitz?
Lady Duff Gordon stands for the proposition that an implied promise to use this standard can save an otherwise illusory contract
What is best efforts / good faith?
This rule provides that acceptance is effective the moment it leaves possession, not when received.
What is the mailbox rule?
In Alaska Packers, demanding more money mid-contract was unenforceable because of this doctrine.
What is the preexisting legal duty rule?
Raffles v. Wichelhaus stands for this defense to mutual assent, arising when parties attach materially different meanings to the same term.
What is material misunderstanding?
A case about forbearance being consideration.
Unlike the minority rule, this case about subcontractors allowed for this type of claim?
What is Drennan v. Star Paving?