Overview of Contracts Flashcards
1
Q
Contracts Overview
A
FORMATION - Creates a Contract
1. Offer
2. Acceptance
3. Consideration
DEFENSES
BREACH
REMEDIES
2
Q
What is a contract?
A
A promise that the law will enforce.
3
Q
Governing Law
A
Land and Services = Common Law
Goods = UCC Article 2
A good is a thing that can be moved.
Predominant Purpose Test = If a contract involves a mix of goods and services/land, then there must be a factual determination as to what law applies - is the K primarily for services or goods? The predominant one determines which law applies.
