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8 Cards in this Set
- Front
- Back
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Modification
CL v. UCC |
CL: requires consideration
UCC: requires good faith |
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Irrevocable Offers
CL v. UCC |
CL:requires C for option K
UCC:Merchant w/signed writing |
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Delays
CL v. UCC |
CL: minor breach unless "time of the essence"
UCC: perfect tender, every deadline met precisely; delay is major breach |
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To meet SOF, the writing must contain
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1. Subject Matter
2. Party Identities 3. Esssenial Terms 4. Signature 5. Recital of C (many states) |
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One performance takes time and the other doesn't
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Rule: UOA,performance of the person requiring time is DUE at an earlier time than the other party.
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Quasi Contract Damages
(no substantial performance) |
Quantum Meruit: Reasonable value of services less def. damages (if any)
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Statute of Frauds:
Requires Writing When MP SIGNS |
Marriage
Personal Property > $5,000 Suretyship Interst in Land Goods more than $500 Not performable w/in 1 yr Securities |
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When is assignment irrevocable?
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1. Consideration by As'ee
2. Detrimental Relaiance 3. Payment or Performance 4. Symbol of A transferred |
