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10 Cards in this Set
- Front
- Back
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The mnemonic for possible issues: Armadillos from Texas play rap, eating tacos.
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Applicable law
Formation of contracts Terms of contract Performance Remedies for unexcused nonperformance Excuse of nonperformance Third-party problems |
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How is a unilateral contract formed?
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Results from an offer that expressly requires performance as the only possible method of acceptance.
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On the exam: bilateral contract unless what two situations?
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1. Reward, prize, contest
2. Offer expressly requires performance for acceptance |
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What are the elements of quasi-contract?
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1. P has conferred a benefit on D,
2. P reasonably expected to be paid, 3. D realized unjust enrichment if P not compensated |
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What is the measure of recovery for quasi-contract?
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The value of the benefit conferred--NOT the K price. K price is a ceiling if P is in default.
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When does the UCC apply?
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Sales of gooods
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What body of law applies to a real estate K?
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common law
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What body of law applies to a services K?
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common law
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What body of law generally applies when a deal includes goods and non-goods?
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Generally, it depends on what is the more important part of the deal
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What is the exception to the general rule that, in a mixed deal, the applicable law depends on the most important part of the deal?
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When the contract divides payment between the separate parts, the UCC applies to the sale of goods part and the common law applies to the rest.
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