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12 Cards in this Set
- Front
- Back
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Applicable Law
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Define/explain
UCC or Common Law |
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Merchant
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Definition
Only applicable if UCC contract |
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Contract Formation
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Define
Offer Acceptance Consideration |
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Offer
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Define
Specificity Firm Offer (UCC) Options Contract Illusory Promise Revocation Termination |
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Acceptance
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Define
Mail Box Rule Mirror Image Rule - Common Law Perfect Tender - UCC Varying Terms - UCC Proposal for Modification - UCC Rejection Rejection and Counter Offer |
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Consideration
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Define
Substitute consideration |
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Statute of Frauds
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Define
Required Memorandum Exceptions |
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Defenses to Formation
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Lack of capacity
Duress/undue influence Misrepresentation/Fraud Mistake (unilateral or mutual) Ambiguity - Parol evidence? Illegality |
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Defenses to Enforcement
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SOF
Unconscionability Failure to cooperate Impossibility Commercial Impracticability Condition Precedent Illegal Purpose Delegation Assignment |
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Breach
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Assurance of performance
Anticipatory Repudiation Material Breach Substantial performance Divisible contract |
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Remedies
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Damages (compensatory, consequential, incidental)
Formula for damages Liquidated damages Mitigation (foreseeable, certain, reasonable) Reliance Damages Specific Performance Injunction |
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Equitable Remedies
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Quasi Contract
Quantum Merut Promissory Estoppel Unclean Hands Reliance Damages Restitution Damages |
