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2 Cards in this Set
- Front
- Back
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Offer (UCC)
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Under contract law an OFFER is a manifestation of present contractual intent communicated to the offeree sufficiently certain as to terms that that an objective person would reasonably believe assent would form a bargain. Under the UCC an offer is sufficiently certain if it specifies the parties and quantity, and UCC "GAP FILLERS" may be used to determine additional terms.
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Consideration (UCC)
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Under contract law every valid contract must be supported by CONSIDERATION, a bargained for exchange of value posing sufficient legal detriment that the law will enforce the agreement. However, under the UCC a contract supported by legal consideration may be MODIFIED without additional consideration.
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