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34 Cards in this Set
- Front
- Back
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Assume you agree to purchase Blackacre. Which law applies?
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Since Real Estate is involved, we apply the Common Law.
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Assume you hire Chemlawn to spray your law. You also hire Lawncutter to mow your lawn. Which law applies?
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Since Services are involved, we apply the Common Law.
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Assume you Purchase lawn chemicals and a lawn mower at Ace Hardware Store. Which Law Applies?
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Since Goods is involved, we apply the UCC.
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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?
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Since structures to be removed is involved, we apply the UCC 2-107.
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Crops, sand, gravel, water, and electricity
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We apply the Code b/c it says so
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Assume you purchase the famous "Parot Diamond." The seller agrees to polish it. Which law applies?
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We apply the UCC b/c services are de minimis
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Assume you purchase real estate and agree to add on a welcome mat. Which law applies
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We apply the common law b/c the good is de minimis.
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Assume you purchase an air conditioner (500) from Sears and hav eit installed (400). Which law appies?
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We apply both, if we can apportion it.
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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?
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No, since we can't apportion, we will ask which preponderates, and apply here common law.
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What type of Contract?
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1) Express 2) Implied 3) Quasi (Constructive)
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Express Contract
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language
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Implied
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Conduct
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Quasi (constructive)
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Implied in Law
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Elements of quasi Contract
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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
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Quasi (Constructive) K - what can we recover?
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K price is a ceiling.
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Whare are void Contracts?
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Nullity from the beginning - illegal Ks
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what are voidable contracts?
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Defect in Formation, may be voidable
-infant, duress, defraud, insane. |
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What are unenforceable contracts?
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No defect in formation. On extrinsic grounds, the court can refuse to enforce. 1) SOF 2) SOL (must plead it!)
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What type of K from the standpoint of validity?
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1) valid 2) void 3) voidable 4) unenforceable
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What are the Four Requisites to a Contract?
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L: Legality
A: Agreement or Assent (offer & acceptance) C: Capacity of the Parties C: Consideration |
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The First L: Legality
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Void: illegal subject matter
Voidable: illegal purpose - K to rent a car to run drugs, and Hertz finds out |
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Test of Agreement or Assent
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Reasonable Person - Objective
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Offer
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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?
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What vitiates an offer?
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1) anger
2) Jest |
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Auction
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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 |
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Offer must be "communicated"; What does it mean?
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1) actual knowledge of the offeree (level 1 kind of communciation) (no mail-box rule in offers)
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Unilateral K
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Common Law: Promise for an Act
Modern: One right and one duty |
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Common Law requirement for an unilateral contract
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Complete performance before a K is formed
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UCC 2-206; unilateral K
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A party can accept a unilateral offer, forming a K, by shipping or promising to ship.
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Perfect Tender Standard 2-601 (UCC)
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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 |
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Open Terms: Which terms cannot be left open?
Real Estate (common law) |
1) Price 2) Description of the property .
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Open Terms: Which terms cannot be left open?
services (common law) |
1) duration
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Open Terms: Which terms cannot be left open?
UCC |
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.
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Are output contracts valid?
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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. |
