Bar Prep Contracts

Question 1

UCC

Answer 1

Governs the sale of “goods”

Question 2

“Goods” - UCC

Answer 2

any movable item

Question 3

The common law covers

Answer 3

contracts that do not involve the sale of goods

Question 4

An offer requires

Answer 4

1. an outward manifestation that can be oral, written or made via conduct, and
2. the signal that acceptance will conclude the deal

Question 5

Four ways to terminate the power of acceptance

Answer 5

1. lapse of time
2. death or incapacity
3. revocation by offeror
4. rejection by the offeree

Question 6

Acceptance under CL

Answer 6

1. mirror image rule - acceptance mirrors terms of offer

2. acceptance is communicated to the offeror

Question 7

Instances where acceptances does not need to be communicated

Answer 7

1. acceptance by silence - given offeror a reason to believe that silence is acceptance
2. acceptance by performance
3. acceptance by mail or other correspondence

Question 8

mailbox rule

Answer 8

acceptance by mail is effective upon dispatch so long as its properly dispatched

Question 9

acceptance under UCC

Answer 9

unless K language says otherwise, it may be made in any manner and medium acceptable under the circumstances

Question 10

Acceptance under UCC and Shipment

Answer 10

1. promise to ship goods in conformity with the terms of the offer
2. a prompt or current shipment of the goods in conforming with the offer
3. the seller can accept the buyers offer by shipping nonconforming goods

Question 11

Consideration

Answer 11

The promise has some value and must be exchanged for something else of value, such as a counter promise or performance given as quid pro quo

Question 12

The exchange of promise for consideration is callled

Answer 12

a bargain or bargained for exchange

Question 13

pre-existing duty rule

Answer 13

a promisor cannot provide consideration where that consideration is a duty the promisor is already obligated to perform

Question 14

illusory promise

Answer 14

a promise to perform that leave performance to the discretion of the promising party - no consideration

Question 15

Past or Moral Consideration

Answer 15

a promise given in exchange for something already given or already performed will not satisfy bargain requirement

Question 16

promissory estoppel

Answer 16

a promisee that reasonably relies to his detriment on a gratuitous promise may be able to enforce that promise even if there is no consideration

Question 17

4 requirements for promissory estoppel

Answer 17

1. a promise
2. foreseeable reliance
3. actual reliance
4. injustice w/o enforcement

Question 18

Categories governed by Statute of frauds

Answer 18

1. marriage
2. k that will not be completed in one year
3. sale of an interest in land
4. contract for executor for decedent
5. guarantee of suretyship
6. sale of goods at a price of $500 or more

Question 19

Writing requirement of statute of frauds

Answer 19

there needs to be a writing and it needs to be signed

Question 20

The parol evidence rule

Answer 20

doesn’t allow evidence outside the four corners of the document

Question 21

purpose for which evidence is introduced

Answer 21

1. explain/interpret contract
2. to supplement the terms of the written contract
3. to contradict the terms of the written contract

Question 22

Incapacity

Answer 22

1. Infancy

2. Mental Incompetence

Question 23

Misrepresentation

Answer 23

untrue statements or assertions that relate to existing facts
can be a sword or a shield

Question 24

Duress

Answer 24

a threat that is wrongful in nature; and that leaves the aggrieved party with no reasonable choice but to succumb to the threat

Question 25

undue influence

Answer 25

unfair persuasion was used; and the other party was vulnerable to such persuasion

Question 26

unconscionability

Answer 26

1. procedural

2. substantive