Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key


Play button


Play button




Click to flip

34 Cards in this Set

  • Front
  • Back
Assume you agree to purchase Blackacre. Which law applies?
Since Real Estate is involved, we apply the Common Law.
Assume you hire Chemlawn to spray your law. You also hire Lawncutter to mow your lawn. Which law applies?
Since Services are involved, we apply the Common Law.
Assume you Purchase lawn chemicals and a lawn mower at Ace Hardware Store. Which Law Applies?
Since Goods is involved, we apply the UCC.
Assume you purchase a farmer's outhouse, to remove it from his farm and place it in your living room as a "great conversation piece." Which law applies?
Since structures to be removed is involved, we apply the UCC 2-107.
Crops, sand, gravel, water, and electricity
We apply the Code b/c it says so
Assume you purchase the famous "Parot Diamond." The seller agrees to polish it. Which law applies?
We apply the UCC b/c services are de minimis
Assume you purchase real estate and agree to add on a welcome mat. Which law applies
We apply the common law b/c the good is de minimis.
Assume you purchase an air conditioner (500) from Sears and hav eit installed (400). Which law appies?
We apply both, if we can apportion it.
What do you do if you can't apportion? Eg, you purchase a 20 million bridge. A steel beam breaks. You want the warranty protection offered by UCC. Can you get it?
No, since we can't apportion, we will ask which preponderates, and apply here common law.
What type of Contract?
1) Express 2) Implied 3) Quasi (Constructive)
Express Contract
Quasi (constructive)
Implied in Law
Elements of quasi Contract
1) P has conferred a benefit on D, and 2) P reasonably expects to be paid, and 3) D realizes unjust enrichment if P is not compensated
Quasi (Constructive) K - what can we recover?
K price is a ceiling.
Whare are void Contracts?
Nullity from the beginning - illegal Ks
what are voidable contracts?
Defect in Formation, may be voidable
-infant, duress, defraud, insane.
What are unenforceable contracts?
No defect in formation. On extrinsic grounds, the court can refuse to enforce. 1) SOF 2) SOL (must plead it!)
What type of K from the standpoint of validity?
1) valid 2) void 3) voidable 4) unenforceable
What are the Four Requisites to a Contract?
L: Legality
A: Agreement or Assent (offer & acceptance)
C: Capacity of the Parties
C: Consideration
The First L: Legality
Void: illegal subject matter
Voidable: illegal purpose - K to rent a car to run drugs, and Hertz finds out
Test of Agreement or Assent
Reasonable Person - Objective
Willingness to form a contract; Wld a reasonable offeree (goes to the objectivity of the test) believe that his or her assent creates a K?
What vitiates an offer?
1) anger
2) Jest
1)holding up the item for bids is an invitation for an offer
2) bidding is an offer
3) the gavel hitting the table is acceptance
Offer must be "communicated"; What does it mean?
1) actual knowledge of the offeree (level 1 kind of communciation) (no mail-box rule in offers)
Unilateral K
Common Law: Promise for an Act
Modern: One right and one duty
Common Law requirement for an unilateral contract
Complete performance before a K is formed
UCC 2-206; unilateral K
A party can accept a unilateral offer, forming a K, by shipping or promising to ship.
Perfect Tender Standard 2-601 (UCC)
i) k is formed only by a delivery of perfect goods
ii) delivery of non-conforming goods form a K if 1) there is acceptance (ie, treating the goods like it's yours, or manifestation of assent) or 2) simultaneous breach
Open Terms: Which terms cannot be left open?
Real Estate (common law)
1) Price 2) Description of the property .
Open Terms: Which terms cannot be left open?
services (common law)
1) duration
Open Terms: Which terms cannot be left open?
Quantity (number) - K is formed w/open terms except for quantity, b/c without, there wld be no way to fashion a remedy for breach thereof.
Are output contracts valid?
A contract for the sale of goods can state the quantity of goods to be delivered under the K in terms of the buyer's requirement or seller's output.
Valid: what B requires for the next 6 years, so long as the increase is in line w/prior history.