Contracts Flashcards
Common Law vs. UCC
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Requirements to Form a Valid Contract
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Mutual Assent: Offer & Acceptance
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Termination/Revocation of Offer
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Merchant’s Firm Offer
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Advertisements
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Timing of Acceptance/Revocation & the Mailbox Rule
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Battle of the Forms (Mirror Image Rule & UCC Exception)
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Implied-in-Fact Contracts
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Output and Requirement Contracts
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Bargained for Exchange
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Promissory Estoppel/Detrimental Reliance
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Incapacity
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Unconscionability
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Mutual Mistake & Unilateral Mistake
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Contracts Requiring a Signed Writing
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Exceptions when a Writing is Not Required
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Pre-Existing Duty Rule & Exceptions
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Parol Evidence Rule
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Condition Precedent
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Frustration of Purpose
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Impossibility
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Impracticability
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Waiver
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Accord and Satisfaction
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Minor Breach (Substantial Performance Doctrine) vs. Material Breach
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Time is of the Essence Clause
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UCC Perfect Tender Rule and Exceptions
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Anticipatory Repudiation & Adequate Assurances
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Implied Obligation of Good Faith and Fair Dealing
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Implied Warranty of Merchantability
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Third-Party Beneficiaries & Enforcement of Rights
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Delegable Duties
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Assignment
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Novation
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