Intro to ks

Question 1

See ks as a timeline

Answer 1

• offer, revocation, etc. ]
• acceptance :mirror image, battle of forms, mailbox
• consideration: bargained for exchange, detriment
• defenses, third parties (assignments etc) ,
• parol evidence
• conditions
• discharge of duties: frustrations, impracticable, impossibility

•	remedies 
o	damages 
•	expectation interest
•	give them the benefit of the bargain 
o	specific performance 
•	if money is inadequate
•	sale of land, unique goods
o	recission 
•	restitution

o quasi-k
• prevents unjust enrichment

o UCC remedies.

Question 2

General issues

Answer 2

“Armadillos from Texas play tennis, riding elephants”

• Applicable law
• Formation
• Terms
• Performance
• Third Party problems
• Remedies for unexcused nonperformance
• Excuse of nonperformance

Question 3

Unilateral k offer

Answer 3

offer that expressly requires performance as the only possible method of acceptance

Question 4

Bilateral k offer

Answer 4

all other offers. Usually offer is silent as to method of acceptance and so
o it’s a bilateral contract unless
• it’s a reward, prize or contest
• the offer expressly requires performance for acceptance.
o Ex: NBC gives Simpson 25k to sing. she agrees, but she lip syncs instead.
• was she kually obligated to sing?–> yes b/c the offer was bilateral.
• would be unilateral if it said “offer can be accepted only by performance”

Question 5

Quasi k

Answer 5

equitable remedy

o apply this if the law produces an unfair result.