Introduction Flashcards
1
Q
What is a K?
A
A legally enforceable agreement (an agreement plus a special legal basis for enforcing the promise)
2
Q
Two Universes of Contract Law
A
Common Law (Land & Services) & UCC (Sale of Goods)
3
Q
Mixed Contracts
A
Contract that has elements of both services & goods
4
Q
Rule #1: All or Nothing Rule
A
You cant be in 2 universes at the same time, so mixed Ks must fall into one universe or the other.
5
Q
Exception to All or Nothing Rule
A
Divisible Ks: the agreement is divided into 2 mini ks (each universe can apply to the respect part of the k that deals with that universe)
6
Q
Rule #2: Predominant Purpose Rule
A
What plays a bigger role? The good or the service? Depending on which one that a specific universe will apply to the whole k.
