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7 Cards in this Set

  • Front
  • Back
Firm Offer Rule

-signed writing by merchant to buy or sell goods which holds itself open for a period of time not exceeding 3 months
Mailbox Rule
an offer is effective upon proper disbatch
-revocation of offer is effective upon receipt
Battle of Forms
-between merchants
-offerer has to say no additional terms accepted
-offerer must reject w/in reasonable time
-contract void if materially altered
-if counteroffer is rejected the original offer still stands
-Improper threat
-no reasonable alternative
Undue Influence
-confidential relationship
-the person who has the duty of watching out for the other takes advantage
1. false representation
2. of a material fact
3. done intentionally
4. made with the knowledge of falsity
5. its resonably relied on
Illusory Promise
in the form of a promise but imposes no obligation upon the maker