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Contracts (Widen) > Acronyms > Flashcards

Acronyms Flashcards

1
Q

Acronym

A state statute is constitutional if PIT

A

police power, rationally related interest, 10th amendment

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2
Q

Acronym

UCC Governs/Goods - GUM

A

growing crops, unbord animals, moveable tangible property (including removeable fixtures)

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3
Q

Acronym

Offer - COD

A

Communication to offeree, objective intent to be bound, definite and certain terms (IPSQUD)

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4
Q

Acronym

Definite and certain terms - IPSQUD

A

identified parties, price, subject matter, quantity, description

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5
Q

Acronym

not offers - I GRAPE

A

invitations to deal, goods contracts that fail to state quantity or output, real estate offers not indentifying land and price, advertisements (unless sent after inquiry), Preliminary negotiations, employment offers without duration listedA

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6
Q

Acronym

Acceptance - POSUM

A

Performance, only offeree can accept, unles option conrtact, Silence (limited), unauthorized method of acceptance while offer is open, mirror image rule

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7
Q

Acronym

Irrevocable offers - FOUR

A

firm offer, option contracts, unilater contract coupled with part performance, foreseeable detrimental reliance

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8
Q

Acronym

termination - DR DIRT

A

destruction of subject matter, revocation, death or insanity of offeree, intervening illegality, rejection or counteroffer, time lapse (reasonable or specified)

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9
Q

Acronym

Promissory estoppel - PRIA

A

promise, reliance, interest of justice, actual reliance

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10
Q

Acronym

contract defenses - SPAM ICU DUPI FUUS

A

Statute of frauds (MY LEGS), parol evidence exceptions, ambiguity, mutual mistake, illusory, capacity or onfancy, ultra vires, duress, unfair, penalty clause, illegal, fraud, unilateral mistake, undue influence, statute of limitations

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11
Q

Acronym

statute of frauds - MY LEGS

A

marriage:
year: any agreement not to be performed w/in 1 yr from making of agreement
land: sale of land, tenements, or hereditaments (or any uncertain interest in/concerning them); or any lease thereof for a PERIOD LONGER THAN 1 yr (tenant can enter into a lease via oral agreement if 1 yr rental)
executor:

goods >$500,

surety

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12
Q

Acronym

statute of frauds exceptions - SWAP

A

specially manufactured goods, written confirmation by merchant, admission in proceeding, peformance by payment or acceptance

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13
Q

Acronym

parol evidence exceptions - DAM FOIL

A

duress, ambiguitiy, mistake, fraud, oral condition precedent, illegality, lack of consideration

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14
Q

Acronym

Contract Equitable remedies - 4R SL

A

restitution, rescission, reliance, reformation, specific performance, liquidated damages

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15
Q

Acronym

Rescission - MUMIII

A

mutual mistake, unilateral mistate, misrepresentation, illegality, impossibility, incapacity

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16
Q

Acronym

specific performance - MC VID

A

mutuality of obligation, definite and certain terms, feasible, valid contract, inadequate legal remedies $, defenses

17
Q

Acronym

Discharge performance - MAC MAN BAR SWIFTI

A

Condition precedent, accord and satisfaction, mutual recession, modification, account stated,novation, breach, anticipatory repudiation, reasonable request for assurances not given, statute of limitations, waiver, impossibility, frustration of purpose, time lapse, impracticability

18
Q

Acronym

Good faith reliance - DCS

A

defective search warrant, case law, statute or ordinance

19
Q

Acronym

Exceptions to good faith reliance - LAID

A

lied, abandoned, insufficient affidavit, deficient in particulars

20
Q

Acronym

exclusionary rule exceptions - NIPBUG

A

non-trial criminal proceedings (grand jury), impeachment, public safety questions, booking questions, undercover police, good faith reliance (DCS)

21
Q

Acronym

Logical relevance exceptions - HI SEAS

A

habit, industrial or business routine, similar occurrences (injuries, accidents), evidence to rebut impossibility claim, absence of similar occurences, sales of similar property

22
Q

Acronym

public policy relevance exclusions - SOMGI

A

subsequent remedial measures, offers to settle, officers to pay medical bills, withdrawn guilty pleas, liability insurance

23
Q

Acronym

not relevant - WUCUM

A

waste of time, unfair prejudice, confusion of the issue, undue delay, misleading the jury

24
Q

Acronym

statute of frauds - MY LEGS

A

marriage, year, land, executor, goods >$500, surety

Contracts (Widen) (5 decks)

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