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10 Cards in this Set

  • Front
  • Back
§90
A promise which…should reasonably expect to induce action or forbearance on the part of [promisee or third party]
§45
(1) When offer invites acceptance by rendering performance and NOT promissory acceptance, option contract created when performance begins, (2) Offeror's duty of performance conditional on completion of invited performance
§87
(1) Binding under standard terms
2) if substantial reliance, binding to extent necessary to avoid injustice
§24
Manifestation of willingess to enter into a bargain
§281
(1) Accord is a contract under which obligee promises to accept a stated performance in satisfaction of existing duty (discharges original duty), (2) Until performance, original duty is suspended unless there is breach of accord by obligor
§73
Performance of a legal duty is not consideration
§89
Promise modifying existing duty is binding (a) if fair and equitable in view of unanticipated circumstances, (b) to extent provided by statute or (c) to extent that justice requires
§37
Power of acceptance of Options K NOT terminated by rejection, counteroffer, revocation or death/incapacity unless requirements are met for discharge of duty
§42
Offeree's power of acceptance terminated when he receives manifestation of intention not to enter into the proposed contract.
§43
Offeree's power of acceptance terminated when offeror takes definite action inconsistent with intention to enter into proposed contract