Misc Rules

Question 1

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Answer 1

Generally not an offer because they lack specific certainty and are a legal invitation to deal

Question 2

UCC (Uniform Commerical Code)

Answer 2

Article 2 of the UCC governs contracts for the sale of goods. Special UCC provisions apply when one or more parties are merchants. As a general principle, the UCC interprets more literally than common law and endeavors to find that a contract exists where possible

Question 3

Common Law

Answer 3

applies to all contracts that do not involve the sale of goods. Typically this involves contracts for the provision of services, or relating to real property. Some courts use UCC provisions by analogy in common law contracts.

Question 4

Parts of a Contract

Answer 4

1. Manifestation of assent (evidence of contract): Offer and acceptance; or Writing; or Conduct
2. Bargain for Exchange of consideration
3. Statute of fraud requires it – a writing signed by the party against whom we are seeking to enforce a contract
   **meet all 3 then contract!

Question 5

Parts of Manifestation of Mutual Assent (MOMA)

Answer 5

• Offer and acceptance: (offer must be clear, definite and explicit and leaves nothing open for negotiations – Lefkowitz case)
• Conduct: (conduct must be sufficiently certain to be able to ascertain the obligations of the parties – Stepp v freeman case) – STAY AWAY FROM CONDUCT – LAST PART TO LOOK AT FOR FORMATION OF CONTRACT
• A writing: (wiring must be sufficiently certain of the nature and extent of their obligations may be ascertained – see Lucy v hero case) – FIRST STEP TO START AT TO SEE IF CONTRACT FORMED

Question 6

Unilateral Contract

Answer 6

A contract formed by an offer requiring acceptance be effectuated by a performance. Acceptance is effectuated only upon the completion of full performance.

Question 7

Bilateral Contract

Answer 7

A contract formed by an offer inviting acceptance by a promise or a performance. Commencement of performance constitutes a return promise to complete performance.