Contracts Mnemonics Flashcards
When might a K not be legally enforceable?
SUP? C.C. DEMANded
S - SoF
U - Unconscionable
P - Public Policy
C - Consideration (lack of)
C - Capacity (lack of)
D - Duress
E - Existing Laws Prohibit
M - Misrepresentation
A - Ambiguity
N - Non-Disclosure
Exceptions to the Statute of Frauds requirement are SWAMP
S: Ks for specially manufactured goods
W: Waiver
A: Judicial admission of K
M: “Merchant Memorandum”
P: Part performance
Contract discharged = IF A NIMROD
IMPRACTICABILITY
FRUSTRATION of purpose
ACCORD and satisfaction
NOVATION
IMPOSSIBILITY
MODIFICATION
RESCISSION (mutual)
OCCURRENCE of condition subsequent
DEFENSE to formation
Promissory Estoppel = PAIR
PAIR
P = promise
A = actual reliance
I = interest of justice
R = reliance
K formation defenses =
SIC DM MUM
DM= Des Moines
s - sof
i - illegal
c - capacity
d - duress
m - mistake of fact
m-misrep
U-unconscion
m - misunderstanding
“WIVES PAD” - excuses K performance
w - waiver
i - impos
v - vol
e estoppel
s - subseq agreement
p - prevention
a - antic rep
d - divis k
IRREVOCABLE OFFERS = FOUR
F: Firm Offer;
O: Option Contracts;
U: Unilateral Contracts
R: Reliance, Detrimental
UCC NEW TERMS –> PART OF K IF “LOAM”
L: doesn’t expressly limit acceptance;
O: doesn’t reject or object w/ in reasonable time;
A: doesn’t materially alter;
M: both merchants.
.
SWAP” - SOF EXCEPTION FOR GOODS > $500
S - SPECIALLY MANUF GOODS
W - WRITTEN CONFIRM MEMO BY MERCH
A - ADMISSION IN JUDICIAL PROCEEDING
P - PT PERFORMANCE
“DR DIRT” - TERMINATES AN OFFER
D-DESTRUCT OF SUBJ MATTER
R - REVOCATION
D-DEATH OF OFFEREE
I-INTERVENING ILLEGALITY
R-REJECTION/COUNTEROFFER
T-TIME LAPSE
“BEAU” - QUASI K
B-BENEFIT TO DEF
E - (PLAINTIFF) EXPECTS TO BE PAID
A - (DEF) ACCEPTED BENEFIT
U - UNJUSTLY ENRICHED
SoF Applies when -
MY LEGS
M- Marriage
Y - Year (>1 year)
L - Land
E - Executor (for estate)
G - Goods ($500 or more)
S - Surety
