0. General Concepts Flashcards
1
Q
What are the Seven General Issues of Contract Law?
A
- Applicable Law
- Formation of Contracts
- Terms of Contract
- Performance
- Remedies for unexused nonperformance
- Excuse of nonperformance
- Third-party problems
“Armadillos from Texas play rap eating tacos.”
2
Q
VOCAB
What is a Unilateral Contract?
A
A contract that results from an offer that expressly requires (full) performance as the only possible method of acceptance.
3
Q
VOCAB
What is a Bilateral Contract?
A
All other offers. Usually offer is silent as to the method of acceptance.
4
Q
Contract will be considered Bilateral UNLESS
A
(1) reward, prize, contest (2) offer expressly requires performance for acceptance.
5
Q
VOCAB
What is a “Quasi-Contract”?
A
An equitable remedy, focusing on fairness. It is not a law-based concept.
