Mbe Contracts

Front 1

Condition

Back 1

Any fact or event other than lapse of time which qualifies a promisor's present duty of performance

Front 2

Pre-Existing Duty Rule

Back 2

an enforceable agreement to modify a contract requires consideration on both sides

Front 3

Shipment of non-conforming goods

Back 3

When a seller ships non-conforming goods, the buyer does have a claim for breach of contract

Front 4

Material Breach & Bilateral Contracts

Back 4

In a bilateral contract, whenever one party commits a material breach, that discharges the other party from his duties and obligations under the contract

Front 5

Material Breach

Back 5

Whenever the failure of performance defeats the purpose of the contract

Front 6

Recovery for Substantial Performance

Back 6

In order to recover for substantial performance, a builder must substantially perform except for "defects of trivial or minor importance"

Front 7

Mistake of both parties as to the contents/effects of a contract

Back 7

Where a writing embodies an agreement in whole or in part fails to express the agreement b/c of a mistake of both parties as to the contents/effects of the writing, the court may at the request of a party, reform the writing to express the true agreement

Front 8

3rd party beneficiaries rights when no contract is entered into

Back 8

A promise creates no duty to a beneficiary unless a contract is formed b/t the promisor and the promisee

Front 9

Assignment

Back 9

A manifestation of intention by the owner of right, presently to transfer that right to the assignee
**assignments need not be permitted in the underlying contract in order to be effective

Front 10

Rules of contract interpretation

Back 10

1) a specific term is to ber preferred over any conflictin general terms
2) express terms have greater weight than course of dealing
3) course of dealin has greater weight than trade ussage

Front 11

Perfect tender rule

Back 11

a buyer may reject at any time if the goods or the tender of delivery fail in any respect to conform to the contract

Front 12

Is delay in the delivery of goods a material breach under the UCC?

Back 12

Yes, ANY delay (except in non-installment contracts) is a material breach

Front 13

Doctrine of Substantial Performance in Contracts for the Sale of Goods

Back 13

Does not apply - primary application is in cases dealing w/ building or construction contracts

Front 14

May a seller cure a defective tender after the time for performance has passed?

Back 14

Yes, if
1)he has reasonable grounds to believe that a non conforming tender would be acceptable
2) the seller reasonably notifies the buye of his intention to cure
3)he cures within a reasonable time

Front 15

Is a contractual obligation created if a doctor makes repeated promises that a surgery will be successful?

Back 15

Yes - this creates a contractual relationship