Contract Outline Flashcards
W2:
Offers; Acceptance/Counteroffer
W1: Lonergan v. Scolnick
BL: There is no meeting of the minds, and therefore, no enforceable contract (per Fox), where communications between the parties do not evidence a definite offer and acceptance.
BL: An advertisement, which a reasonable person would not take seriously and refers to other material, is not an offer.
W2: Leonard v. Pepsico
W6:
Promissory Estoppel; Restitution; Promissory Restitution; Duress; Misrepresentation,
BL: Relief of a manufacturer’s legal obligation to dispose of a material classified as hazardous waste, such that the manufacturer avoids the costs of disposal, contitutes sufficient consideration to ground contract and warranty claims brought by the disposer.
W2: Pennsy v. American Ash >Consideration
W8:
Public Policy; Theory and Practice of Contractual Assent; Statute of Frauds; Mistake; Impossibility
Princess >Battle of Forms (common law) > Mirror Image:
BL: When the predominant purpose of a maritime or land-based contract is the rendering of services rather than the furnishing of goods, the UCC is inapplicable, and courts must draw on common-law doctrines when interpreting the contract.
W2: Normile v. Miller
BL: A prospective purchaser does not have the power to accept a counteroffer after receiving notice of its revocation by accepting the counteroffer within the time period specified in the prospective purchaser’s original offer.
BL: There is no meeting of the minds, and therefore, no enforceable contract (per Fox), where communications between the parties do not evidence a definite offer and acceptance.
W1: Lonergan v. Scolnick
W2: Pennsy v. American Ash >Consideration
BL: Relief of a manufacturer’s legal obligation to dispose of a material classified as hazardous waste, such that the manufacturer avoids the costs of disposal, contitutes sufficient consideration to ground contract and warranty claims brought by the disposer.
BL: A note that is not supported by consideration is unenforceable.
Dougherty >Consideration >Restatement (2nd) Sec. 71(b) >Donative Promises (Promises and Value: Existence of Consideration)
W4:
Consideration; Agreement to Agree; Unilateral Contracts; Option Contract; Battle of Forms (common law)
BL: When the predominant purpose of a maritime or land-based contract is the rendering of services rather than the furnishing of goods, the UCC is inapplicable, and courts must draw on common-law doctrines when interpreting the contract.
Princess >Battle of Forms (common law) > Mirror Image:
Walker >Common Law >Agreement to Agree
BL: Where essential terms such as price are not contained in an option contract, and no standards are included whereby such terms may be judicially determined (specific formula, designated arbitrator, extrinsic market source, etc.), no contract exists.
Batsakis >Consideration > Restatement (2nd) Sec. 79 >Adequacy of Consideration: Promises and Value: Value of consideration.
BL: Mere inadequacy of consideration (disparity in value) will not void a contract.
