Promise & Consideration

Question 1

Restatement of Contracts

Answer 1

Adopted by the American law Institute, which attempts to explain the rules of contract law clearly and concisely by scholars, judges, and lawyers. Most jurisdictions follow these rules.

Question 2

Uniform Commercial Code (UCC)

Answer 2

Article 2 sets for rules governing contracts only for the sale of goods. This is not law, but also like the statement of draft of text by a group of experts. It’s a model for state legislators to develop an enact the state’s contract—treat as statutory law.

Question 3

Uniform Commercial Code (UCC)

Answer 3

Article 2 sets for rules governing contracts only for the sale of goods. This is not law, but also like the statement of draft of text by a group of experts. It’s a model for state legislators to develop an enact the state’s contract—treat as statutory law.

Question 4

Contract

Answer 4

A set of promises that is legally binding and provides a remedy

Rest. 2nd, 1: Promise or set of promises for the breach of which warrants remedy, or the performance of which the laws on my recognizes as a duty

Question 5

Promise

Answer 5

Communication of commitment or reassurance through:
1. Mutual assent (approval/agreement) and;
2. Consideration

Rest 2nd, 1: A statement so made us justify a promise and understanding that a commitment has been made.

Question 6

Bilateral Contract
Unilateral Contract
Gratuitous Promise

Answer 6

• Promise for promise.
• Promise for current or future performance .
• Promise with no expectation of return, lacks consideration -> not enforceable .

Question 7

Consideration

Answer 7

1. Act/promise/forbearance;
2. Bargained for;
3. Motivation (reason for doing it)

(Rest. 2nd, 71) Distinction between a legal contract, worthy of court protection and a promise

Question 8

When D said said he’d guarantee to make a burned hand “100% good” in order to solicit P undergo the surgery. Did the surgeon make a promise?

Answer 8

Yes. The surgeon induced the patient reassurance “100% good” after pursuing patient to do the experimental surgery -> Hawkins believe there was commitment and a promise was made. External manifestation of intent is what matters in the eyes of the law.

Hawkins v. McGee (1929)

Question 9

When a nephew refrains from drinking, using tobacco, swearing or gambling until he turns 21 in exchange for $5,000 from his uncle, is this considered forbearance?

Answer 9

Yes, restricting legal freedom for money is consideration.

Hammer v. Sidway (1981)