Types of Ks

Question 1

How are express Ks formed

Answer 1

by language

Question 2

How are implied Ks formed

Answer 2

by conduct

Question 3

How are quasi Ks formed

Answer 3

NOT REAL Ks

formed when unenforceable K creates unjust enrichment

Question 4

What are goods?

Answer 4

all things moveable

Question 5

What is a merchant

Answer 5

one who regularly deals in goods of that kind** or who otherwise **holds** themselves out as to having **special knowledge** or **skills** as to the **practices** or **goods involved

Question 6

What is a unilateral K

Answer 6

one in which offeror requests performance rather than a promise

Question 7

How is a unilateral K accepted?

Answer 7

by FULLY completing performance

Question 8

List (2)

In what situations does a unilateral K occur?

Answer 8

1. when offeror clearly (unambiguously) indicates that completion of performance is the of acceptance
2. Where there is an offer to the public (ie reward offer)

Question 9

Magic words for a unilateral K

Answer 9

“offer …. only by”

ex: reward of $500 if dog is returned

Question 10

list (4)

UCC A2 does not apply to

Answer 10

1. real estate
2. services
3. intangible goods (ie patent)
4. construction contracts

Question 11

Void K

Answer 11

K that has no legal effect since the beginning and thus cannot be enforced by either party

Question 12

Voidable K

Answer 12

K that one or both parties elect to avoid

for ex., raising a defense like mental illness

Question 13

Unenforceable K

Answer 13

K that would have been enforceable BUT cannot be enforced due to a defense for ex., SOF or a SOL

Question 14

Void vs Voidable K

Answer 14

Void - can never be enforced

Voidable - can be enforced (iow: aggrieved party can elect to enforce)

Question 15

predominant purpose test

Answer 15

test to determine what the predominate purpose of the K is - UCC or CL