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7 Cards in this Set
- Front
- Back
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Firm Offer Rule
2-205 |
-signed writing by merchant to buy or sell goods which holds itself open for a period of time not exceeding 3 months
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Mailbox Rule
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an offer is effective upon proper disbatch
-revocation of offer is effective upon receipt |
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Battle of Forms
2-207 |
-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 |
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Duress
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-Improper threat
-no reasonable alternative |
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Undue Influence
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-confidential relationship
-the person who has the duty of watching out for the other takes advantage |
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Fraud
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1. false representation
2. of a material fact 3. done intentionally 4. made with the knowledge of falsity 5. its resonably relied on |
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Illusory Promise
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in the form of a promise but imposes no obligation upon the maker
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