Blaw Exam 2

Front 1

Patents

Back 1

when someone comes up with an invention, like a chemical formula

Front 2

trade secrets and reverse engineering

Back 2

stealing someone else's secrets and making them your own. it only protects from people unlawfully-not protected from reverse engineering

Front 3

trademarks

Back 3

trade names. trade service names. things in commercial use slogan used. you're only protected against trademark infringement

Front 4

copyrights

Back 4

protect a creative art work. must have c circled for copyright and (name and date)

Front 5

What is a contract?

Back 5

a contract is an agreement in which the law will enforce
a bargain for exchange
gifts promises are unbinding
a voluntary sort of thing
a contract is a voluntary thing

Front 6

the objective standard of a contract

Back 6

when parties intend to make a contract. what it looks like what they meant.

Front 7

elements of a contract

Back 7

offer: offeror, offeree. was there an offer with reasonably specific terms.
acceptance: when offeree accepts the offer then there is a contract.
consideration: legal term for exchange. promise to benefit.
capacity:person is right in the head. minors can make contracts but are voidable.
legal purpose:murder is not legal

Front 8

sources of a contract law

Back 8

common law: only for services and real estate and benefits.
UCC: at least 49 otta 50 states have enacted to it. only for the sales of goods.

Front 9

classifying a contract

Back 9

express or implied: offer accepted by word, letter or any reasonable means.
in fact or implied: like advertising or going grocery shopping.
bilateral: a promise for a promise
unilateral: a promise for an act
executory: one that has not been performed yet
partially/fully executed: take bike pay later.
valid: satisfying all legal requirements.
voidable:where a party can get off contracts without legal liability.
unenforceable: will not be undone.
void:illegality, adjudicated incompetents

Front 10

Quasi contracts

Back 10

prevent unjust enrichment. make people ppl pay.
1.given a benefit
2.had to be accepted with an opportunity to reject.
3.reasonable person expect to pay(fair market value)

Front 11

The agreement:
Offer and Acceptance

Back 11

must intend to contact: judge from the objective, reasonable person standard
is not an offer when someone mad or frustrated makes one

Front 12

reasonably certain terms

Back 12

offer the subject matter
what is it about. what damages for breach would be?

Front 13

sales contract

Back 13

cannot imply quantity
UCC2-306: requirement contract-specific enough. buy what they need

Front 14

offer must be properly communicated to offeree

Back 14

sending e-mail to a bunch of other people when the offer was not intended to them doesnt count. only intended person can reply with an acceptance to count.

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offer may specify manner of acceptance.

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how it is going to be accepted. By noon friday. all saturday no contract. not an acceptance by any reasonably means. counteroffers terminate offers

Front 16

distinguishing preliminary negotiations

Back 16

they are not offers, just questions that parties ask like, will you sell...?
offer is I'll sell you this...

Front 17

advertisements

Back 17

invitations-regulated by law, not a contract law
exceptions:trying to get person to do an act. becomes a unilateral offer

Front 18

rewards

Back 18

unilateral offers, accepted by doing act

Front 19

bids

Back 19

offers-invite people to make offers
owners of property has final say

Front 20

auctions

Back 20

depends on the rules of the auction
they are calling for offers

Front 21

termination of the offer

Back 21

revocation: offeror can revoke anytime before acceptance
exceptions: when they cant revoke before an acceptance

Front 22

firm offer/ UCC 2-205

Back 22

only applies to the sales of goods contract-offer by a merchant, must be made in signed writing assurance-stating a time period to accept. the period will not be enforce for more than 3 months

Front 23

option to the UCC

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real estate and sale of benefits and services
a contract to keep offer open. consideration keep offer open, paying half of what it is

Front 24

Promissory estoppel

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1. general legal concepts. like paying some but not full amount of an offer. the offeror has too keep offer open till offeree pays completely
2. the offeree reasonably rely on the promise to his detriment.

Front 25

unilateral offers-only in some states

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1. offeror cant revoke before act is done.
2.substantial performance rule: cant revoke without giving reasonable amount to finish act
3.started performance rule: started performance cant revoke till act is finish

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Indirect revocation

Back 26

make a revocation the same way that the offer was made, like a public offer

Front 27

rejection/counteroffer

Back 27

terminate an offer

Front 28

lapse of time

Back 28

build in expiration date-reasonable amount of time

Front 29

destruction of subject matter

Back 29

terminates an offer-if the goods is broken then offer is terminated

Front 30

death or incompetency

Back 30

unless its an option

Front 31

illegality

Back 31

no illegal contracts
if subject matter becomes illegal then offer is terminated

Front 32

acceptance

Back 32

say something or doing something that a reasonable person would take as an acceptance

Front 33

acceptance of a unilateral offer

Back 33

doing an act and finishing itbefore accepting

Front 34

acceptance of a bilateral offer

Back 34

promising to pay

Front 35

silence as acceptance

Back 35

stated in the offer that silence was acceptance. Intend there was silence
general rule:not acceptance if silence

Front 36

exceptions to silence as an acceptance

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a.offer so states, and offeree with intend of accepting does remain silent.
b. offeree accepts a benefit he had a chance to reject
c. previous dealings-established a custom silence but stil accepted it

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communicating the acceptance

Back 37

offer may specify means that they have to do exactly what says to do in order to accept(do anything else-making counter offer will result in no contract
If offer doesnt specify how to accept either use same as offer was made or better than offeror sent offer or faster

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timing of acceptance

Back 38

when it takes effect you have a contract

Front 39

the mailbox rule

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mail is the only proper mean to send an acceptance.
rejections and acceptances. If offeror gets rejection first then he can start another offer with someone else. if the acceptance is sent first in th email and then rejection is sent then there is a contract.

Front 40

form of acceptance

Back 40

common law: the mirror image rule: acceptance must be on the same terms as offer, nothing else added and if there is then it is a counteroffer

Front 41

UCC 2-207

Back 41

Exception of the common law only used for sales of goods contracts

Front 42

acceptance with additional or different terms still an acceptance. unless it indicates to the contrary

Back 42

unless is worded as a counter offer

Front 43

when merchants make an offer

Back 43

if its only one merchant and a body, then it is on merchant terms
if its both merchants then
1. between merchants the offer falls in the offerees terms unless the original offer states otherwise or terms materially alter the contract or offeror objects to the additional terms within reasonable time

Front 44

consideration

Back 44

exchange as a general rule
benefit to which one had no prior legal entitlement
undertaking a detriment or burden one is not otherwise obligated to incur, like giving the right to sue

Front 45

legal adequacy- the meaning of valuable

Back 45

taking amount or less amount for paid in full

Front 46

illusory promises

Back 46

output and requirements have needs and wishes and desires, illusory promises are promises that were not meant to be promises at all

Front 47

pre-existing legal duty

Back 47

when you cannot give up something when you already gave it up for consideration to somebody else
like a public obligation: a cop having to catch a bad guy cannot get reward
or contractual duty: when you have a contract to teach but dont want to teach and then party offers to pay to stay and teach but then dont pay, party cant sue cause of contractual duty

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exceptions to contractual duty

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a. liquidated debt: an accord and satisfaction, amount that is in genuine good faith
b. new consideration: getting money early is a new consideration taking less than actual debt and taking it as full payment

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past consideration

Back 49

act that has already been done. cannot serve as consideration if promise was made after act was made

Front 50

contracts that are enforceable without consideration

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a. new promise to pay old debt
1.discharged by statute of limitations-like bankruptcy
b. promissory estoppel: when a promisor makes a promise which promisor expects promisee will rely on it and promisee relies on promise made

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capacity: when both parties have contractual capacity

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minors and infants can make contracts, but their contracts are voidable

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minor's power to disaffirm

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saying anything or doing anything, at any time during their minority, or within reasonable time of maturity age. their responsibility is to return any consideration taken. duty of the other party has to return money or full consideration taken

Front 53

effect of misrepresentation of minors age

Back 53

they can disaffirm but they are still liable for a tort- called a fraud.
they are not liable for torts if it amounts to the same thing as being held liable on the contract. some states say minor cannot disaffirm

Front 54

statutory rules:contracts minors cannot disaffirm

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insurance, banks, contracts made to fulfill a legal duty-legal obligation to pay real estate taxes. or mom paying for her sick minor, if doesnt have money then minor is held liable since it is a service that is needed

Front 55

ratification

Back 55

minors cannot disaffirm after ratification, meaning after they have shown that they want to keep consideration, intend to keep contract

Front 56

minors contractual liability of a necessaries-use subjective test

Back 56

necessities needed by minors they are held liable if needed

Front 57

mental competency issues

Back 57

if anyone is judge by court or judge that they are mental incapable of making or getting into contracts or it shows they have lack of memory they can get off contract.
except if they show at the time making the contract that they are good in the head