Contracts

Question 1

Acceptance by silence

Answer 1

if offerree 1) reasonably expected silence to constitute an acceptance, was silent, and intended to accept, and 2) prior course of dealings show that that there is a history of acceptance by silence between these parties

Question 2

Accord and satisfaction

Answer 2

Under an accord agreement, one party to the contract agrees to accept different performance from the other party than what was promised in the existing contract.

Generally, consideration is required for an accord to be valid.

By compromising, each party surrenders its respective claim as to how much is owed.

Question 3

Unilateral mistake

Answer 3

when one party is mistaken to a term in the contract, remedy is dependent on if they bore the risk of knowing this mistake, and either the K would be unscionsbable if enforced, or the nonmistaken party knew, recklesslly disregarded knowing, or failed to correct the mistaken fact when a reasonable person should have corrected it

Question 4

fraudulent misrepresentation

Answer 4

false fact, made in order to mislead party, which induced assent, and reliance on the misrepresented fact

Question 5

SOF

Answer 5

Mr.SOUR
-marriage
-Surety
-over one year
-UCC over 500
-Real estate

Question 6

Exceptions to SOF

Answer 6

Genereally, promissory estoppel

Specifically,
-real estate: part peformance, at least 2 of 3: possession, payment of purchase price, substantial improvement

-UCC: specially manufactured goods, receipt of payment by seller, receipt of goods by seller, memorandum unanswered